BNP Paribas teams up with crypto custody firm Metaco - CoinDesk

In an effort to move towards cryptocurrency custody, BNP Paribas (OTCQX:BNPQF) (OTCQX:BNPQY) is partnering with Swiss cryptocurrency infrastructure firm Metaco, CoinDesk reported Tuesday, citing three people with knowledge on the matter.BNP Paribas Securities Services, the French-based lender's custodian subsidiary, holds more than $13T in assets under custody.Metaco, which provides crypto custody solutions for banks and institutions, has recently teamed up with Societe Generale (OTCPK:SCGLF) (OTCPK:SCGLY), another French lender, as well at Citigroup (C), CoinDesk noted. Those deals are providing the banks with services involving security tokens, such as blockchain-based securities.BNP Paribas nor Metaco did not immediately respond to requests for comment by Seeking Alpha.In May, the Financial Times reported that BNP Paribas turned to JPMorgan's blockchain network for fixed income trading.