A leading international bank is getting ready to launch a blockchain solution to allow institutional investors to safely store tokenized securities.
HSBC, one of the world’s largest financial conglomerates with over $3 billion in assets under management, has announced a partnership agreement with Swiss FinTech company Metaco, owned by Ripple. The collaboration aims at launching a custody solution for digital assets.
The new service will extend the capabilities of HSBC’s Orion blockchain solution, which allows institutional clients to issue tokenized assets. According to John O’Neill, Global Head of Digital Assets Strategy, Markets, and Securities Services at HSBC, the new service will form a complete digital asset lifecycle solution.
Adrien Treccani, CEO and Founder of Metaco, says that the Harmonize custody infrastructure will be integrated with the existing HSBC system, simplifying the interaction between issuers and investors.
HSBC is actively trying to implement various innovative technologies, including DLT systems. Earlier, the conglomerate took part in testing the use of quantum technologies to ensure the security of financial transactions.
