HSBC Plans Digital Assets Custody for Tokenized Securities (2)

HSBC Holdings Plc plans to offer institutional clients a custody service for digital assets such as tokenized securities, the bank’s latest move in the new area of finance.

HSBC will work with Ripple Labs Inc.-owned technology firm Metaco on the safekeeping services, which it expects to go live in 2024, it said in a statement on Wednesday.

The offering will complement HSBC’s platform for digital assets issuance, called HSBC Orion, and the bank’s system toissue tokenized goldwhich it launched last week. The latter uses distributed ledger technology to represent ownership of physical gold held in its London ...