BNP Paribas to partner with Metaco to explore crypto custody: CoinDesk

Custody • July 19, 2022, 11:10AM EDT
The Block

Quick Take

  • BNP Paribas is reportedly partnering with solutions provider Metaco to get in on crypto custody. 

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.

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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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About Author

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.

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