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Advising BNP Paribas Securities Services on digital assets custody

  • France
  • General

01-09-2022

We have advised BNP Paribas Securities Services, a leading global custodian and securities services provider, on partnering with fintech Fireblocks, a digital asset custody, transfer and settlement platform, to develop its new digital asset custody offering.

BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, provides multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. As part of BNP Paribas Securities Services’ initiative to extend its services to cover digital assets (a.k.a. crypto assets), the banking multinational has selected Fireblocks for its hot wallet, tokenisation and connectivity infrastructure layer. As a first step, BNP Paribas Securities Services will use Fireblocks’ solution in their on-going experimentation with the settlement and custody of regulated security tokens. Most recently, BNP Paribas Securities Services leveraged Fireblocks’ solution in a live experiment on the settlement and custody of a non-listed digital bond in the French market.

BNP Paribas Securities Services’ partnership with Fireblocks represents a new milestone in the digital asset space for the bank. With the market’s growing interest, while regulatory frameworks are still being stabilized, BNP Paribas Securities Services is leveraging the solution of Fireblocks to move towards its objective of helping clients issue, transfer and safekeep regulated digital assets efficiently and securely.”

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This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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