French Bank BNP Paribas is partnering with crypto infrastructure firm Metaco to custody crypto, CoinDesk reported today, citing three people with knowledge of the deal.
BNP Paribas Securities Services, the custodian subsidiary of the bank, holds over $12 trillion under custody. In recent months, the Swiss solutions providers has inked deals with multiple banks to develop digital asset custody platforms.
Citigroup partnered with Metaco to pilot and develop its digital asset custody platform last month. That deal has the bank exploring custody capabilities for tokenized securities, like blockchain-based stocks and bonds. More recently, French lender Societe Generale partnered with Metaco to work on its digital asset subsidiary, which will also primarily focus on security tokens.
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