Press Release Today TheBitTimes.com

HSBC has partnered with Ripple-owned tech firm, Metaco, to allow institutional investors hold tokenized securities on its new custody platform. HSBC has partnered with Ripple-owned tech firm, Metaco, to integrate its institutional platform Harmonize with HSBC’s new custody service for digital assets, the firm announced on Nov. 8. The bank expects to roll out the new digital asset custody service in 2024, complementing its digital asset issuance platform known as HSBC Orion and HSBC offering for tokenized physical gold, launch ed on Nov. 1, 2023. Together, the services form a complete digital asset offering for HSBC’s institutional clients, the firm said. Major global banking company HSBC is planning to launch an institutional custody platform for tokenized securities, also known as security tokens. This is a developing story, and further information will be added as it becomes available. Source: https://thebittimes.com/hsbc-taps-ripple-s-metaco-to-launch-security-token-custody-...

Join Our Telegram channel to stay up to date on breaking news coverage According to a Jan. 21 article in the newspaper, the Federal Home Loan Banks System (FHLB) of the United States is financing billions of dollars to two of the biggest cryptocurrency banks in an effort to lessen the impact of a spike in withdrawals. Over $13 billion in house loans were reportedly taken out by Signature Bank and Silvergate The FHLB is an association of 11 regional banks from different parts of the country that lend money to other banks and lenders. The system, which was started during the Great Depression to promote housing finance, now has over 6,500 members and $1.1 trillion in assets. The company is said to have made a nearly $10 billion loan to the commercial bank Signature Bank in the final quarter of 2022, making it one of the biggest bank borrowing deals in recent memory. The New York Department of Financial Services gave the Signature permission to use blockchain technology for its d...