News site Coindesk cites sources saying BNP Paribas is entering cryptocurrency custody by partnering with Metaco, a Swiss digital asset safekeeping firm with large banks already on its client list.
“Metaco, which recently inked a custody tech deal with French bank Societe Generale (GLE), is becoming the go-to provider for banks and institutions looking to enter the crypto space. Metaco also recently announced a deal with Citigroup (C), and previously with the likes of BBVA (BBVA), Zodia Custody, DBS and UnionBank Philippines,” writes Coindesk.
The news site also points out crypto custody firm Fireblocks as a BNPP partner. Fireblocks is said to also work with BNY Mellon, “in a live experiment on the settlement and custody of a non-listed digital bond in the French market”.
For industry overview, this PostTrade 360° post from last year referred to a list of blockchain initiatives by banks, not least regarding custody.