DekaBank and Metaco partner to launch cryptocurrency custody service

DekaBank, the Germany-based institution with €363 billion ($395.7 billion) in assets, has chosen Harmonize by Metaco as the primary platform for storing and managing the digital assets of institutional clients.

🤝🏻🇩🇪 Today we announce our partnership with @DekaBank, the leading provider of #securitiesservices and #capitalmarkets solutions to the German #SavingsBanks Finance Group (#Sparkassen-Finanzgruppe), with AuM of over €360 billion.

📰 To read the full PR: https://t.co/NcoZagLgCP pic.twitter.com/NzUJA6H0Pg

— METACO (@metaco_sa) January 31, 2023

DekaBank выступает ведущим поставщиком услуг по ценным бумагам и решений на рынке капитала для группы государственных сберегательных банков (Sparkassen-Finanzgruppe).

Harmonize enables the rollout of complex banking propositions and provides institutional-grade security standards, according to a press release.

To advance cryptocurrency activities, DekaBank will require obtaining a license from BaFin.

Earlier, Metaco’s Harmonize platform for launching a digital assets custody service was chosen by Societe Generale, BBVA, DBS, Citigroup, UnionBank and BNP Paribas.

Previously, Commerzbank directed an application to BaFin for a cryptocurrency custodian license.

In December, the cryptocurrency-focused holding Bitcoin Group acquired the German bank Bankhaus von der Heydt (BVDH).