Fireblocks has been BNY Mellon and BNP Paribas’ preferred custody technology vendor.
Regulatory ambiguity around cryptos has reduced major banks’ excitement for the sector.
Two sources acquainted with the situation have reportedly confirmed that HSBC, one of the world’s major banks, is collaborating with the crypto custody technology business Fireblocks.
Even before this agreement, Fireblocks had experience dealing with major institutions because of their expertise in crypto custody technologies like multi-party computation (MPC). Fireblocks has been BNY Mellon and BNP Paribas’ preferred custody technology vendor since early 2021.
Still Wary of Cryptocurrencies
Regulatory ambiguity around cryptocurrencies has reduced major banks’ excitement for cryptocurrency. This is due in large part to the legal battles being fought between crypto businesses and U.S. authorities. This murkiness is allegedly helping foreign financial firms gain ground on their American rivals.
Earlier in Ju
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