One of Europe’s leading banking groups, BNP Paribas, is reportedly considering a partnership to potentially offer crypto custody services to its own clients.
With $13 trillion in assets under custody, the French bank is collaborating with Metaco, a digital asset custody firm.
By establishing a communication channel between the world of traditional investors and the crypto-assets market, such services enable institutional and private players to access and operate in the crypto market while keeping their funds safe.
Metaco will assist in facilitating the required infrastructure that the bank currently lacks.
Mateco’s previous deals with Societe Generale and Citigroup focused on security tokens or asset tokenization rather than purely financial tokens.
Also Read: Citibank Chooses METACO to Develop Digital Asset Custody
Last week, Europe’s second-largest bank, structured and tokenized a project finance bond led by EDF on the public Ethereum blockchain. The funds were used to support solar energy projects that assist businesses and individuals in installing solar panels.
