DZ Bank, the second-largest bank in Germany by asset size, has announced a partnership with Metaco to integrate digital currencies into its asset management services.
The announcement states that after a thorough Proof-of-Concept and due diligence procedure, DZ Bank chose Metaco’s custody platform Harmonize to provide digital currencies to its institutional clients. According to the report, Harmonize has been effective in helping DZ Bank develop and secure offerings to institutional clients in the field of crypto securities and digital currencies, fully integrating them into their existing asset management services.
Nils Christopeit, Lead Solution Design Digital Custody at DZ Bank, claims that Metaco Harmonize has proven to be a potent solution that is suitable for the intended operating model and fits their needs in terms of security, scalability, and future requirements for their institutional clients’ digital asset custody initiative, starting with crypto securities following the German eWpG.
According to Christopeit, they are confident that their technology-based offering will enable them to construct a long-lasting and rapidly expanding commercial partnership and an appealing client solution that can also satisfy the needs of digital currencies and decentralized financial instruments.
Chief Sales Officer at Metaco Craig Perrin also shared his thoughts on the partnership. According to him, Metaco’s infrastructure was created expressly to enable organizations to embrace digital assets and participate in the digital asset economy. The CSO stated how excited the group was to support DZ Bank’s institutional solutions.
Perrin stated:
“We are excited to announce this cooperation as it further establishes Metaco as a market leader in Germany, trusted by some of the country’s largest banks and exchanges.”
Metaco has been working closely with many important players in Germany. On February 9, Metaco announced a partnership with German DekaBank to launch a blockchain-based tokenization platform. The platform is expected to be available in 2024, with development scheduled to begin in 2023.
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