The French financial conglomerate BNP Paribas will launch a digital asset custody service. CoinDesk reports, citing its own sources.
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The bank’s partner will be the institutional-investor-focused Swiss custodian Metaco. In June, Citigroup announced that, in partnership with the firm, it will implement a pilot project for a platform to store and manage digital currencies.
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Metaco is also a partner in similar initiatives of banks Societe Generale, BBVA, DBS and UnionBank Philippines.
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In most cases, institutions focus on operations with security tokens, such as digitised shares and other financial instruments, with less emphasis on cryptocurrencies per se.
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According to Metaco CEO Adrien Treccani, this strategy has become a popular trend among French banks.
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Earlier, in 2020, the British banking giant Standard Chartered invested in a custodian.
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