German DZ Bank to deploy cryptocurrencies in asset-management services

Germany’s DZ Bank Group, the country’s second-largest banking group, announced the integration of cryptocurrencies into asset-management services through a partnership with Metaco.

??@dzbank, the central institution to the @BVRPresse cooperative financial network, one of the largest banking groups in Germany, selected Metaco Harmonize to underpin its institutional digital asset services.

PR: https://t.co/KcISwoT0OE#digitalassets #blockchain #tokenization pic.twitter.com/99hf98oT2u

— Metaco (@metaco_sa) February 23, 2023

When interacting with the new products, institutional clients will use the Harmonize custodial platform. The latter, according to Nils Kristopeit, head of DZ Bank, meets the institution’s security and scalability requirements.

The Swiss-founded Metaco, established in 2015, offers enterprise-grade solutions for interacting with digital assets. Its Harmonize platform is used by Societe Generale, BBVA, DBS, Citigroup, UnionBank and BNP Paribas.

Earlier, German DekaBank, with €363 billion in assets, chose Metaco technologies for custody and management of institutional clients’ digital assets.