DZ Bank expects Metaco to offer custody for crypto-assets
DZ Bank, one of the largest German banks by assets, has announced its latest partnership with Metaco, a digital asset technology provider is expanding its current wealth management and custody services with digital currencies.
According to Thursday’s press release sent to Financial tycoon, the German lender chose the Harmonize custody platform by Metaco to offer its institutional clients access to cryptocurrencies. The decision to collaborate with the Swiss-based company was made after extensive consideration and a proof-of-concept process.
Metaco’s agnostic model allows various distribution approaches and includes a hardware-based key management infrastructure, which ensures the security of various digital assets, such as tokenized securities such as bonds and stocks. In addition, Harmonize provides a flexible governance framework that enables customization of risk and compliance controls, while keeping multiple business units and customers fully separated to ensure policy, user, account and asset isolation.
Nils Christopeit, Lead Solution Design Digital Custody at DZ Bank, said the Harmonize platform proved to be a “powerful solution” supporting the DZ Bank operating model.
“With the offering we can build using this technology, we trust to create a lasting and fast-growing business partnership as well as an attractive solution for our customers that can also meet the demands of digital currencies and decentralized financial instruments,” Christopeit added. .
DZ Bank is a provider of various financial services, with a particular focus on asset management for institutional customers. It stands out as one of the largest German lenders and custodians, with 297 billion euros in assets under its administration by the end of 2022.
Metaco’s Chief Sales Officer, Craig Perrin, stated that the company’s infrastructure is an excellent fit for financial institutions looking to capitalize on the crypto asset industry.
See the recent FMLS22 panel discussion on: “Hodling on? Reimagining Crypto Market Structure.”
Seven years of Metaco’s expansion
Metaco is an enterprise technology company that was established in Switzerland in 2015. The company’s primary goal is to enable financial and non-financial institutions to construct their digital asset operations in a secure manner.
In recent years, Metaco has established partnerships with many leading companies in the wider financial industry. For example, in 2019, the leading insurance broker, Aon became a partner in the cryptocurrency firm.
A year later, the crypto-custody platform closed a $17 million Series A funding round. According to announcements at the time, the round was oversubscribed, with demand over double its original goal and led by Giesecke+Devrient, a Germany-based security technology company.
In addition, Societe Generale bet on Metaco’s cryptocurrency offering, looking to build “a solid foundation” for its digital asset business. In addition, the collaboration enabled it to lead efforts to integrate security tokens into traditional finance.
Financial tycoon recently informed that the Swiss-based fintech the company appointed Seamus Donoghue as Chief Growth Officer. Until his appointment, Donoghue was vice president of strategic alliances.
DZ Bank, one of the largest German banks by assets, has announced its latest partnership with Metaco, a digital asset technology provider is expanding its current wealth management and custody services with digital currencies.
According to Thursday’s press release sent to Financial tycoon, the German lender chose the Harmonize custody platform by Metaco to offer its institutional clients access to cryptocurrencies. The decision to collaborate with the Swiss-based company was made after extensive consideration and a proof-of-concept process.
Metaco’s agnostic model allows various distribution approaches and includes a hardware-based key management infrastructure, which ensures the security of various digital assets, such as tokenized securities such as bonds and stocks. In addition, Harmonize provides a flexible governance framework that enables customization of risk and compliance controls, while keeping multiple business units and customers fully separated to ensure policy, user, account and asset isolation.
Nils Christopeit, Lead Solution Design Digital Custody at DZ Bank, said the Harmonize platform proved to be a “powerful solution” supporting the DZ Bank operating model.
“With the offering we can build using this technology, we trust to create a lasting and fast-growing business partnership as well as an attractive solution for our customers that can also meet the demands of digital currencies and decentralized financial instruments,” Christopeit added. .
DZ Bank is a provider of various financial services, with a particular focus on asset management for institutional customers. It stands out as one of the largest German lenders and custodians, with 297 billion euros in assets under its administration by the end of 2022.
Metaco’s Chief Sales Officer, Craig Perrin, stated that the company’s infrastructure is an excellent fit for financial institutions looking to capitalize on the crypto asset industry.
See the recent FMLS22 panel discussion on: “Hodling on? Reimagining Crypto Market Structure.”
Seven years of Metaco’s expansion
Metaco is an enterprise technology company that was established in Switzerland in 2015. The company’s primary goal is to enable financial and non-financial institutions to construct their digital asset operations in a secure manner.
In recent years, Metaco has established partnerships with many leading companies in the wider financial industry. For example, in 2019, the leading insurance broker, Aon became a partner in the cryptocurrency firm.
A year later, the crypto-custody platform closed a $17 million Series A funding round. According to announcements at the time, the round was oversubscribed, with demand over double its original goal and led by Giesecke+Devrient, a Germany-based security technology company.
In addition, Societe Generale bet on Metaco’s cryptocurrency offering, looking to build “a solid foundation” for its digital asset business. In addition, the collaboration enabled it to lead efforts to integrate security tokens into traditional finance.
Financial tycoon recently informed that the Swiss-based fintech the company appointed Seamus Donoghue as Chief Growth Officer. Until his appointment, Donoghue was vice president of strategic alliances.
