[Delio] BNP Paribas, French Banking Giant, Enters Custody Market
Swiss digital asset safekeeping company Metaco and French Bank BNP Paribas (BNP), a company that has previously joined the JP Morgan Blockchain Division, will collaborate on joining the crypto custody market, crypto media CoinDesk reported on July 19.
According to the three people with knowledge of crypto deals, BNP Paribas Securities Services’ status as a key worldwide custodian with about $13 trillion in assets under custody makes this agreement especially noteworthy. The service will be provided with the purpose of securing tokens, including tokenized versions of stocks while less focusing on pure cryptocurrency.
Notably, Metaco plays a key role in the cryptocurrency transferring deals for traditional banks. Along with BBVA, the second-largest bank in Spain, Zodia Custody, DBS, and UnionBank Philippines in the past, Metaco recently announced a cooperation with Citigroup ©.
As stated by Metaco CEO Adrien Treccani in a recent interview with CoinDesk, this is a common tendency among French banks as they rapidly join the digital asset industry.
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