HSBC to Custody Tokenized Securities for Institutions
Hong Kong’s largest bank, HSBC, plans to launch a custody service for tokenized securities for its institutional clients by 2024.
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Hong Kong's largest bank, HSBC, plans to launch a custody service for
tokenized securities for its institutional clients by 2024.
The service is being developed in collaboration with Metaco, owned by Ripple Labs.
It
will not cover cryptocurrencies or stablecoins, focusing instead on
securities issued on third-party platforms, such as tokenized bonds.
In doing so, HSBC will expand its HSBC Orion platform and the bank's system for issuing tokenized gold.
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