Swiss-based digital asset custody provider Metaco has announced a significant partnership with banking giant HSBC, a move that is expected to strengthen support for the XRP Ledger (XRPL) in the wake of Ripple's acquisition. Adrien Treccani, the CEO of Metaco, attributes the success of this collaboration to persistent negotiations spanning 18 months, which now indirectly promotes the usage of XRPL and its native XRP token.
The integration combines Metaco's digital asset custody solutions with Ripple's capabilities, providing banks with a vertical stack solution for effectively managing tokenization life cycles and payment primitives. This partnership comes at a time when Ripple is embroiled in a lawsuit with the U.S. Securities and Exchange Commission. However, Metaco remains committed to advancing its partnerships with tier one banks worldwide, focusing on enhancing the efficiency of cross-border payments.
HSBC's foray into digital assets through this partnership marks a significant shift in the financial industry towards tokenization, with expectations that banks will increasingly offer a broad range of cryptocurrency-related services. This aligns with Treccani's vision of financial freedom and indicates a broader industry pivot towards embracing digital asset services.
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