HSBC to launch custody services for tokenized securities

HSBC is the largest bank in Europe by total assets. HSBC on Wednesday announced it will offer custody services for tokenized securities, making the British bank the latest major institution to embrace digital assets. HSBC is using technology from Swiss crypto custody firm Metaco, which was recently acquired by blockchain startup Ripple, to store bonds and other securities. In a press release, the bank said that the service would complement its HSBC Orion platform for issuing digital assets, as well as a recently-launched offering for tokenized physical gold. HSBC will use Harmonize, Metaco’s platform for institutions, which “helps unify security…