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DZ Bank, one of Germany’s largest custodian banks, has selected Metaco’s custodian platform Harmonize to secure and service crypto securities and digital currencies for Institutional clients.
February 23, 2023 - Metaco announced its cooperation with DZ BANK AG, the central institution to the Volksbanken Raiffeisenbanken cooperative financial network. As a central institution, DZ BANK provides services, particularly asset management services, being one of the largest German custodians, with €297 billion assets under custody at the end of 2022.
Metaco's custody and orchestration platform, Harmonize was selected by DZ BANK following a due diligence process and will now integrate it into its current asset management services.
Nils Christopeit, Lead Solution Design Digital Custody at DZ BANK, commented: "In terms of our security, scalability, and future requirements of our digital asset custody initiative for institutional clients, starting with crypto securities as per the German eWpG, Metaco Harmonize has proven to be a powerful solution that is fit for purpose and can support our intended operating model. With the offering we can build by using this technology, we trust to create a durable and fast-growing business cooperation as well as an attractive solution for our clients that can also meet the requirements of digital currencies and decentralized financial instruments."
Craig Perrin, Chief Sales Officer at Metaco, commented: "Metaco's digital asset technology infrastructure is purposely designed to support financial institutions to capitalize on the digital asset economy. 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."
