German bank DZ Bank will offer its institutional clients a cryptocurrency custody service through a partnership with Metaco.
DZ Bank therefore joins Société Générale, Citibank and DekaBank, which have also launched a crypto custody service using Metaco’s Harmonize platform.
A New German Bank Embraces Cryptocurrencies
DZ Bank, the 2nd largest bank in Germany in terms of funds under management (297 billion euros), fully embrace cryptocurrencies following a collaboration with the company Metaco.
So, the bank’s institutional clients will be able to enjoy a high-level cryptocurrency custody service, where safety will be the watchword. Nils Christopeit, Head of Web3 Operations at DZ Bank, added:
“With the offering we can design using this technology, we are creating a long-lasting, fast-growing business relationship and an attractive solution for our customers that can also meet the demand of digital currencies and financial instruments.”
Metaco embeds institutions in Web3
Founded in 2015 in Switzerland, Metaco is a technology company whose mission is to enable financial and non-financial institutions to acquire solutions dedicated to cryptocurrencies. Custody, trading, tokenization, staking and even smart contract management services, the Harmonize platform developed by Metaco seamlessly connects institutions to the vast universe of Web3 and decentralized finance (DeFi).
While the cryptocurrency market was going through a more than difficult period, Metaco has therefore established itself as the institutional standard for digital asset management infrastructure.and has earned the trust of top fund managers, banks, regulated exchanges and corporations around the world.
Furthermore, this collaboration with DZ Bank is the 4th partnership of this type that Metaco has entered into with major financial institutions in the last 8 months. It follows similar contracts entered into with Société Générale, Citibank and DekaBank.
Having signed with such clients should undoubtedly help Metaco to approach other institutional investors in the coming months.