DZ Bank is adding digital asset custody to its services with the help of Swiss tech firm Metaco.

Digital asset custody refers to the storage and management of digital assets, such as cryptocurrencies, tokens, and other blockchain-based assets, by a trusted third-party custodian. DZ Bank stepped up to become a provider of such services. 

Being the second-largest German bank in asset size, the financial institution will utilize Metaco’s custody platform Harmonize for its proven security. Several major financial institutions that Metaco partnered with in the past eight months used the same platform.

DZ Bank was not Metaco’s sole partner in Germany. The company recently collaborated with different key players in Germany. One particularly important institution was DekaBank that partnered with Metaco on the 9th of February to launch a blockchain tokenization platform.

Despite the market’s slump in 2022, traditional financial institutions, like DZ Bank, still show great interest in digital currencies.

Metaco expressed its enthusiasm to work with DZ Bank; Craig Perrin, the chief sales officer at Metaco, explained that Metaco’s infrastructure helps institutions manage digital assets and partake in the digital asset economy.

Companies chose Metaco for security and digital asset custody

In November 2022, Metaco collaborated with Union Bank, one of the most well-known local banks in the Philippines. The company assisted Union Bank in launching its custody and trading services for Bitcoin.

In addition Union Bank, Turkish automaker TOGG collaborated with Metaco to strengthen the security of its smart contract-based auto mobility services. 

With these examples, we want to emphasize that various companies selected and continues selecting Metaco for improvement.