HSBC to launch digital assets custody service

HSBC plans to launch a new digital assets custody service for institutional clients who invest in tokenised securities. Once live in 2024, HSBC’s new service will complement HSBC Orion, the bank’s platform for issuing digital assets, as well as HSBC’s recently launched offering for tokenised physical gold. The new service does not cover cryptocurrencies or stablecoins.

HSBC is working with, Metaco, the Swiss-based provider of digital asset custody and tokenisation technology which was acquired by Ripple earlier this year, to use its institutional platform, Harmonize. The Harmonize solution helps unify security and management of digital asset operations.

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