June 22, 2022 - Citi announced today that it has selected METACO to develop and pilot digital asset custody capabilities.
This collaboration brings together METACO’s technology and digital solutions with Citi’s custody network to develop a platform to enable clients to store and settle digital assets seamlessly and securely.
Citi intends to fully integrate METACO's digital asset custody and orchestration platform, Harmonize, into its existing infrastructure, to develop and pilot digital asset custody capabilities.
“We are witnessing the increasing digitization of traditional investment assets along with new native digital assets. We are innovating and developing new capabilities to support digital asset classes that are becoming increasingly relevant to our clients,” said Okan Pekin, Global Head of Securities Services at Citi . This partnership enables Citi to extend its existing capabilities to digital assets while leveraging its current technological, operating and servicing model.
Citi’s global network, coupled with the Harmonize platform, will allow Citi to expand securely and effectively into new markets, while utilizing its existing global operations, technology, and risk frameworks. The technology capabilities developed under this partnership will be part of Citi’s Institutional Client Group digital asset strategy.
Adrien Treccani, CEO and Founder of METACO, commented, “We are pleased to team up with Citi, one of the largest securities services firms, to support them in their vision to bridge digital and traditional assets. This initiative is a market-defining moment for institutional adoption of digital assets.”
As a technology provider to financial institutions in the digital asset ecosystem, METACO has supported several key implementations, including FINMA, BaFin, FCA, Banco de España, and MAS regulated institutions.
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