HSBC taps Ripple’s Metaco to launch security token custody

HSBC has partnered with Ripple-owned tech firm, Metaco, to allow institutional investors hold tokenized securities on its new custody platform.

HSBC has partnered with Ripple-owned tech firm, Metaco, to integrate its institutional platform Harmonize with HSBC’s new custody service for digital assets, the firm announced on Nov. 8.

The bank expects to roll out the new digital asset custody service in 2024, complementing its digital asset issuance platform known as HSBC Orion and HSBC offering for tokenized physical gold, launched on Nov. 1, 2023. Together, the services form a complete digital asset offering for HSBC’s institutional clients, the firm said.

Major global banking company HSBC is planning to launch an institutional custody platform for tokenized securities, also known as security tokens.

This is a developing story, and further information will be added as it becomes available.