{"id":81057,"date":"2023-06-30T17:25:37","date_gmt":"2023-06-30T14:25:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81057"},"modified":"2025-09-11T20:40:00","modified_gmt":"2025-09-11T17:40:00","slug":"citigroup-weighs-revisiting-its-partnership-with-metaco","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/citigroup-weighs-revisiting-its-partnership-with-metaco\/","title":{"rendered":"Citigroup weighs revisiting its partnership with Metaco"},"content":{"rendered":"<p>The banking conglomerate Citigroup is seeking a replacement for the Swiss crypto custodian Metaco after Ripple Labs <a href=\"https:\/\/forklog.com\/en\/news\/ripple-agrees-to-acquire-crypto-custodian-metaco-for-250-million\">announced the acquisition<\/a> of the latter for $250 million. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-06-30\/citigroup-reviews-partnership-with-metaco-which-was-bought-by-ripple#xj4y7vzkg\">Bloomberg<\/a> reports.<\/p>\n<p>According to anonymous sources, the financial giant is already in talks with several digital-asset custody providers.<\/p>\n<p>Citigroup selected Metaco as its depository partner <a href=\"https:\/\/forklog.news\/citigroup-zapustit-kastodialnuyu-platformu-dlya-tsifrovyh-valyut\/\">\u0432 \u0438\u044e\u043d\u0435 2022 \u0433\u043e\u0434\u0430<\/a>. Under the agreement, the firm launched the Harmonize platform to manage its cryptocurrency portfolio.<\/p>\n<p>The group has more than 200 million client accounts and operates in 160 countries and jurisdictions.<\/p>\n<p>There is no confirmation yet that the decision to end the partnership with Metaco is related to Ripple&#8217;s acquisition. Earlier, the company said that the custodian would continue to operate as an independent brand and would still be led by CEO Adrien Treccani.<\/p>\n<p>Founded in 2015, Metaco offers enterprise-grade solutions for interacting with digital assets. Its Harmonize platform is already used by financial institutions Societe Generale, BBVA, DBS, <a href=\"https:\/\/forklog.com\/en\/news\/philippines-unionbank-launches-bitcoin-trading-and-custody-services\">UnionBank<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/bnp-paribas-to-launch-custody-service-for-digital-currencies-reports-say\">BNP Paribas<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/dekabank-and-metaco-partner-to-launch-cryptocurrency-custody-service\">DekaBank<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/german-dz-bank-to-deploy-cryptocurrencies-in-asset-management-services\">DZ Bank<\/a>.<\/p>\n<p>In November 2021, Citigroup announced the launch of a <a href=\"https:\/\/forklog.com\/en\/news\/citigroup-to-launch-digital-assets-unit-for-institutional-clients\">crypto-focused division<\/a> for institutional clients. Under the initiative, the bank planned to hire 100 specialists.<\/p>\n<p>In August 2022, Citigroup <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">posted<\/a> several vacancies for DeFi risk-management managers and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The banking conglomerate Citigroup is seeking a replacement for the Swiss crypto custodian Metaco after Ripple Labs announced the acquisition of Metaco for $250 million.<\/p>\n","protected":false},"author":1,"featured_media":81058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1798,2156],"class_list":["post-81057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-citigroup","tag-metaco"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81057"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81057\/revisions"}],"predecessor-version":[{"id":81059,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81057\/revisions\/81059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81058"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}