BNP Paribas soon to be a player in the custody of cryptocurrencies?

The French bank would have partnered with the Swiss cryptocurrency custody specialist Metaco, reveals CoinDesk.

A French bank has decided to go further than simply exploring the world of cryptocurrencies. And not just any: it is BNP Paribas, through its asset custody subsidiary BNP Paribas Securities Services.

According to the specialized media CoinDesk, the bank should offer a cryptocurrency custody service, according to “three people” familiar with the operation. A service made possible thanks to a partnership with the Swiss company Metaco, which specializes in the conversion of cryptocurrencies.

13 trillion dollars in assets under management

“Many large banks are moving into cryptocurrency custody, but what makes this deal particularly significant is BNP Paribas Securities Services’ position as a major global custodian with nearly $13 trillion in assets under custody,” points out CoinDesk.

At this stage, neither BNP Paribas nor Metaco have published an official press release on this subject. According to our information, BNP Paribas Securities Services will communicate on this subject tomorrow.

A recent partnership between Metaco and Société Générale

A few less, the Swiss actor is making more and more mergers with major banks. Its last partnership dates from the end of June with the blockchain subsidiary of Société Générale, SG-Forge, in order to develop a service for institutional investors.

“By partnering with Metaco, SG-Forge is able to leverage their secure infrastructure to ensure that we maintain a strong foundation to grow our business in the digital asset market,” said Jean-Marc Stenger. , boss of SG-Forge.

The Swiss company has also forged recent partnerships with other big names in the bank, from Citigroup to the Spanish BBVA.

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