Ethereum

Bank AI

Bitcoin

Read

Coin

Legacy bank HSBC announced its latest blockchain endeavor in partnership with a Ripple-owned firm to service institutional clients with demand for real-world assets (RWA) hosted on-chain. 
According to a Nov. 8 statement, HSBC plans to launch a digital asset custody service for tokenized financial instruments sometime in 2024. Metaco, a Swiss firm specializing in safeguarding crypto assets, was <a href="https://www.metaco.com/press-release/hsbc-metaco-digital-asset-custody/" target="_blank" rel="noopener">named</a> HSBC’s partner for its new product. Ripple acquired Metaco for $250 million in May 2023. 
The bank said the offering would complete a 360-degree platform along with its digital asset issuance service and its product which tokenizes physical gold, allowing eligible investors greater access to RWAs and traditional investment vehicles housed on blockchain networks.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 1/3 📰<a href="https://twitter.com/HSBC?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@HSBC</a> announced that it is working with <a href="https://twitter.com/metaco_sa?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@metaco_sa</a> as it plans to launch a new digital assets custody service for institutional clients who invest in tokenised securities. To learn more: <a href="https://t.co/aI6IiaEvhu" target="_blank">https://t.co/aI6IiaEvhu</a> cc <a href="https://twitter.com/MonicaLongSF?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@MonicaLongSF</a> <a href="https://twitter.com/seamus_don?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@seamus_don</a> <a href="https://twitter.com/AdrienTreccani?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@AdrienTreccani</a> <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Ripple</a> <a href="https://t.co/KiBCZVAqeA" target="_blank">pic.twitter.com/KiBCZVAqeA</a>— Metaco (@metaco_sa) <a href="https://twitter.com/metaco_sa/status/1722234724146676033?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 8, 2023</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
HSBC emphasized that its custodial service for digital assets will not cater to crypto tokens or stablecoins until further notice.&nbsp; 
Zhu Kuang Lee, an executive of Securities Services at HSBC, said the bank has been negotiating key partnerships to deliver next-gen custody infrastructure at scale.&nbsp; 
<blockquote class="wp-block-quote"> 
 We’re seeing increasing demand for custody and fund administration of digital assets from asset managers and asset owners, as this market continues to evolve… For asset servicers, there has never been a more important time to innovate, to collaborate, and to create change. <cite>Zhu Kuang Lee, Chief Digital, Data and Innovation Officer, Securities Services, HSBC</cite>
</blockquote> 
 You might also like: <a href="https://crypto.news/visa-wraps-up-hong-kong-cbdc-trial-with-hsbc-and-hang-seng-bank/"> Visa wraps up Hong Kong CBDC trial with HSBC and Hang Seng Bank </a> 
A handful of banks have forayed into blockchain applications for commercial purposes as investors seek contemporary methods to deploy and secure capital. JPMorgan reportedly facilitates $1 billion in daily transactions via its JPM Coin payment channel, global payment chief Takis Georgakopoulos told Bloomberg in September 2023.&nbsp; 
Deutsche Bank also disclosed plans for a tokenization service and custodial product for digital assets. The bank partnered with fintech company Taurus for this development at a time when RWAs on blockchain have experienced growth, climbing to nearly $1 billion in market cap per <a href="https://www.coingecko.com/en/categories/real-world-assets-rwa" target="_blank" rel="noopener">Coingecko</a>. 
In other HSBC-related news, the bank moved to <a href="https://crypto.news/hsbc-uses-blockchain-to-revamp-outdated-london-gold-market-infrastructure/">revamp</a> London’s outdated gold market infrastructure. HSBC also <a href="https://crypto.news/hsbc-unveils-bitcoin-and-ethereum-etf-in-hong-kong/">unveiled</a> Bitcoin and Ethereum ETFs for Hong Kong traders shortly after local authorities <a href="https://crypto.news/hong-kong-pushes-hsbc-and-standard-chartered-to-embrace-crypto-clients/">pushed</a> for banks to onboard crypto clients.&nbsp; 
 Read more: <a href="https://crypto.news/hsbc-acquires-svb-uk-for-1-amid-collapse/"> HSBC acquires SVB UK for £1 amid collapse </a>

HSBC taps Metaco for tokenized securities platform

crypto.news

发布于 2023年11月8日的其他文章

Bloomberg analysts point to 8-day window beginning Nov. 9 in which several spot Bitcoin ETFs coul...

Bitcoin price surpasses $35k again despite whale activity drop

The German Postal Service will Issue its NFT Collection

Cardano (ADA) Experiences Significant Growth Amidst Bitcoin ETF Excitement

SinVerse Set to Transform Digital Asset Trading With Launch of New Metaverse Marketplace and Asse...

New Crypto Landing Platform Tokennet To Serve Institutional Clients

订阅我们免费的电子期刊，获取每日最新加密领域动态！