DZ Bank, Germany’s second largest bank by asset volume, will fully integrate digital currencies into its asset management services in cooperation with digital asset company Metaco.
According to the announcement sent to Cointelegraph, DZ Bank has chosen Metaco’s custodian platform Harmonize that offers cryptocurrency to its institutional clients. Nils Christopet, CEO at DZ Bank, said that the Metaco Harmonize platform fits their requirements in terms of security and scalability.
“With the offering that we can build with this technology, we are confident in creating a durable and fast-growing business synergy as well as an attractive solution for our clients that can also meet the needs of digital currencies and decentralized financial instruments,” added Christoubet.
Metaco Chief Sales Officer Craig Perrin also commented on the collaboration. The CEO expressed the team’s enthusiasm in supporting DZ Bank’s institutional offerings. He said that Metaco’s infrastructure is specifically designed to support institutions adopting digital assets and participating in the digital asset economy. he added:
“We are excited to announce this collaboration as it cements Metaco’s position as a market leader in Germany, trusted by some of the country’s largest banks and exchanges.”
Metaco actively cooperates with several major players within Germany. On February 9, the digital asset management platform For a partnership with German DekaBank To launch a blockchain-based token platform. According to the announcement, the infrastructure is expected to be built in 2023 and may be launched in 2024.
Related: JPMorgan sees advantages in deposit tokens over commercial banking blockchain stablecoins
Apart from Germany, the digital asset management platform has also partnered with a Turkish automaker and one of the most famous local banks in the Philippines. On January 10, Metako Partnership with Turkish automotive technology company Togg To help secure contract-based smart mobility services. On November 2, 2022, the company also assisted UnionBank in the Philippines Launching custody and trading services for bitcoin (BTC) and ether (ETH).
