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HSBC to Offer Tokenized Securities Custody Service for Institutions

HSBC, one of the world's largest banks, said it plans to start a digital-assets custody service for institutional clients focusing on tokenized securities in conjunction with Swiss crypto safekeeping specialist Metaco. Once live in 2024, the custody service will complement HSBC Orion, the London-based bank’s platform for issuing digital assets, as well as a recently introduced offering for tokenized physical gold, HSBC said in a statement. Together, the platforms will form a complete digital asset offering for institutional clients, the bank said. Banks and financial institutions are bringing a range of real-world assets (RWA) onto blockchains.

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