Leveraging Ripple’s Metaco, BBVA Switzerland Boosts Digital Asset Operations

BBVA Switzerland Partners with Ripple-Owned Metaco for Digital Asset Operations

BBVA Switzerland has announced a strategic alliance with Metaco, a subsidiary of Ripple, to leverage Metaco’s Harmonize platform for its digital asset operations. By utilizing Harmonize, BBVA Switzerland aims to enhance speed, operational efficiency, and governance standards in its digital assets ecosystem.

Expanding Digital Asset Offerings

The collaboration will enable BBVA Switzerland to expand its digital asset offerings, including DeFi, tokenization, cryptocurrency custody solutions, and smart contract management.

Longstanding Partnership and Stakeholder Involvement

The partnership builds upon the longstanding relationship between Metaco and BBVA Switzerland. Metaco’s Harmonize platform offers a suite of solutions for institutional clients, including self-custody, order management, smart contract management, and networking tools.

Avaloq, a Swiss banking tech company with a 10% stake in Metaco, will also play a crucial role in the project by integrating the Harmonize layer into its cryptocurrency assets platform and core banking system.

Pioneering in Eurozone

BBVA Switzerland has been at the forefront of digital assets in the Eurozone and introduced cryptocurrency trading and custody services in June 2021. This partnership further demonstrates their commitment to blockchain services and financial education in the digital asset space.

Empowering Digital Asset Capabilities

The collaboration with Metaco will empower BBVA Switzerland to strengthen its digital asset and private key custody capabilities. It will also enhance security policies and operational flexibility, aligning with BBVA’s vision for future business use cases in the digital asset industry.

Hot Take: Institutional Banks Embrace Metaco’s Harmonize Solution

BBVA Switzerland’s partnership with Metaco reflects a growing trend among institutional banks. Germany’s DekaBank and Liechtenstein’s VP Bank have also utilized Metaco’s Harmonize solution this year. This demonstrates the increasing recognition of Metaco’s platform as a reliable and efficient solution for digital asset operations.