Cryptos Platform logo Cryptos Platform logo
Seeking Alpha 2022-07-19 16:25:39

BNP Paribas teams up with crypto custody firm Metaco - CoinDesk

In an effort to move towards cryptocurrency custody, BNP Paribas (OTCQX:BNPQF) (OTCQX:BNPQY) is partnering with Swiss cryptocurrency infrastructure firm Metaco, CoinDesk reported Tuesday, citing three people with knowledge on the matter.BNP Paribas Securities Services, the French-based lender's custodian subsidiary, holds more than $13T in assets under custody.Metaco, which provides crypto custody solutions for banks and institutions, has recently teamed up with Societe Generale (OTCPK:SCGLF) (OTCPK:SCGLY), another French lender, as well at Citigroup (C), CoinDesk noted. Those deals are providing the banks with services involving security tokens, such as blockchain-based securities.BNP Paribas nor Metaco did not immediately respond to requests for comment by Seeking Alpha.In May, the Financial Times reported that BNP Paribas turned to JPMorgan's blockchain network for fixed income trading.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.