BNP Paribas Securities Services has partnered with fintechs Fireblocks and Metaco to develop its new digital asset custody offering.
The new combined solution will allow clients to issue, transfer and securely keep regulated digital assets.
BNP Paribas Securities Services head of digital assets Wayne Hughes says the partnerships “will allow us to extend our custody offering to a wider scope of regulated digital assets as the market evolves”.
The banking multinational has selected Fireblocks for its hot wallet, tokenisation and connectivity infrastructure layer, while Metaco will integrate its digital asset custody and orchestration platform into the bank’s existing infrastructure.
Initially, BNP Paribas Securities Services will leverage Fireblocks’ solution while it experiments with the settlement and custody of regulated security tokens, with a live experiment on the settlement and custody of a non-listed digital bond in the French market already completed.
Metaco’s platform will underpin the bank’s institutional custody offering and unify governance across its multiple systems, allowing institutional clients to store, issue and settle digital securities alongside their traditional assets.
Metaco CEO and founder Adrien Treccani says his company’s tech will provide BNP Paribas’ new offering with strong security and scalability “while ensuring full regulatory compliance globally”.
Image and article originally from www.fintechfutures.com. Read the original article here.