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French Bank with $13T Assets Under Custody is Entering the Crypto Custody Space
Summary: French Bank, BNP Paribas (BNP.PA) is entering the crypto custody world by partnering with Swiss digital asset safekeeping firm Metaco, according to a CoinDesk Report. This is just the latest example in a larger trend that sees large banks slowly migrating to the crypto custody space. This deal is especially significant given that the French ...
French Bank, BNP Paribas (BNP.PA) is entering the crypto custody world by partnering with Swiss digital asset safekeeping firm Metaco, according to a CoinDesk Report.
This is just the latest example in a larger trend that sees large banks slowly migrating to the crypto custody space. This deal is especially significant given that the French bank holds almost $13 trillion in assets under custody.
This deal also furthers Metaco’s reputation as one of the go-to providers for banks and institutions entering the crypto space. Metaco has inked deals with French bank Societe Generale, Citigroup, BBVA, Zodia Custody, DBS and UnionBank Philippines.
The Metaco deals with Societe Generale and Citi are focused on security tokens, like tokenized versions of stocks, paying much less attention to strictly cryptocurrencies.
CoinDesk noted that this seems to be a popular trend with French banks entering the digital asset space.
Author: Tyler Irvin
Tags: BNP Paribas,METACO
Link: French Bank with $13T Assets Under Custody is Entering the Crypto Custody Space [Copy]
