BBVA Switzerland Partners with Metaco for Crypto Custody Operations
BBVA Switzerland, the Swiss branch of a major Spanish bank, has announced its collaboration with Ripple-owned tech firm Metaco’s Harmonize platform for crypto custody operations with institutional investors. The move comes as BBVA aims to enhance agility and security in its infrastructure. By utilizing Harmonize, BBVA can connect to blockchains beyond Bitcoin and Ethereum, potentially expanding its crypto services. This includes the possibility of offering trading services for other cryptocurrencies and tokenizing traditional assets. Metaco’s Harmonize platform, launched in 2021, has gained traction among various financial institutions such as HSBC, DZ Bank, Societe Generale, and UnionBank.
Partnership Origins and Expansion
The collaboration between BBVA and Metaco began in 2021 when Metaco assisted BBVA Switzerland in launching crypto custody and trading services for individual clients. This initiative made BBVA the first tier-1 bank in the eurozone to provide such services.
Hot Take: BBVA Switzerland Embraces Ripple-Owned Tech for Crypto Custody Operations
BBVA Switzerland has teamed up with Metaco’s Harmonize platform to strengthen its crypto custody operations with institutional investors. By migrating to Harmonize, BBVA aims to achieve greater agility and security in its infrastructure. This partnership allows BBVA to explore new opportunities in the crypto space, including expanding its range of supported cryptocurrencies and tokenizing traditional assets. Metaco’s Harmonize platform has already gained recognition among major financial institutions worldwide. This collaboration builds on the previous success of BBVA Switzerland’s launch of crypto custody and trading services for individual clients in 2021.
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