Is HSBC Changing the Game with Tokenized Securities? 🤔
#HSBC is set to launch a digital asset custody service in 2024, partnering with Ripple-owned tech firm #Metaco .
The platform, integrated with HSBC's Harmonize, caters to institutional investors, allowing them to hold tokenized securities.
This initiative, coupled with HSBC Orion and a tokenized physical gold offering, forms a comprehensive digital asset suite. The move responds to growing demand for custody and fund administration of digital assets.
Notably, the custody platform will exclusively cover security tokens, excluding cryptocurrencies like #Bitcoin and stablecoins. HSBC has been actively recruiting talent for its tokenized security division, reflecting its commitment to digital asset market development.
This follows HSBC's recent success in testing tokenized deposits with Ant Group.
