French banking giant BNP Paribas is entering the cryptocurrency custody business as a result of its partnership with Metaco.
According to media reports, BNP Paribas offers its customers cryptocurrencies. custody service It will work with Metaco, a Swiss-based digital asset company, to offer
BNP Paribas is not the only bank that plans to provide custody services for cryptocurrencies. However, this name stands out from the rest with its size.
As of the first quarter of this year, BNP Paribas Securities Services $13.2 trillion in total It offers custody services for assets of value. This represents BNP Paribas Securities Services in terms of the total value of the assets in custody. the fifth in the world and the first in Europe doing.
Metaco, with which BNP Paribas is preparing to cooperate, had previously worked with banks. Providing the necessary infrastructure to keep digital assets safe, the company also made an agreement with another French bank, Societe Generale.
Other names Metaco has worked with include Citigroup, BBVA, Zodia Custody, DBS and UnionBank Philippines.