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HSBC plans to offer digital asset custody services for institutional clients. The bank will offer the custody services in collaboration with Metaco, a DeFi firm owned by Ripple. The custody services will complement HSBC’s existing digital asset issuance platform, HSBC Orion. HSBC Holdings Plc is gearing up to make a significant move in the financial industry by offering custody services for digital assets to institutional clients. In a strategic partnership with Ripple-owned decentralized finance (DeFi) firm Metaco, the global banking giant is set to provide solutions tailored to the evolving landscape of digital finance. HSBC’s plan HSBC’s foray into digital asset custody is a response to the rising demand from asset managers and owners for secure and efficient management of digital assets. These services are anticipated to become operational in 2024, aligning with the bank’s vision of staying at the forefront of the digital finan...

KEB Hana Bank and BitGo plan to launch a joint cryptocurrency custody venture in the second half of 2024. One of the largest South Korean banks, Korea Exchange Bank (KEB Hana Bank), is moving to offer digital asset custody services through a new partnership with major cryptocurrency custody firm BitGo Trust Company. KEB Hana Bank has signed a strategic business agreement with BitGo to jointly establish digital asset custody in South Korea, the local news agency Yonhap reported. The commercial bank has a network of 111 branches with local banking assets of nearly $10 billion and equity of $490 million. Hana Bank representatives reportedly announced the news on Sept. 5 at the cryptocurrency industry conference “Korea Blockchain Week.” As part of the collaboration, the parties will establish a joint venture featuring BitGo’s custody solutions and Hana Bank’s financial service and compliance expertise. “By promoting digital asset custody business together with global partners, we exp...