- The financial institution had assets of just about $315 billion (€297 billion) through the finish of 2022.
- DZ Bank intends to include Metaco’s key product, Harmonize.
DZ Bank is really a subsidiary of Volksbanken Raiffeisenbanken, certainly one of Germany’s major banking conglomerates. It’s announced it would make use of a platform produced by fintech company Metaco. To supply services associated with digital currencies and crypto securities to institutional customers.
Furthermore, DZ Bank, Germany’s second-largest bank when it comes to assets, is really a trustworthy custodian supervised by Bafin. It’d assets of just about $315 billion (€297 billion) through the finish of 2022.
Incorporating Metaco’s Harmonize
Founded in 2015 in Europe, Metaco’s primary goal would be to facilitate crypto operations for companies of stripes. Its infrastructure enables users to keep and trade cryptocurrencies, tokenize assets, provide staking services, and administer smart contracts.
DZ Bank intends to include Metaco’s key product, Harmonize. It’s an orchestration platform for digital assets, into its existing asset management services included in the collaboration. As mentioned in news reports release, the German bank, which places reasonably limited on regulatory compliance and security, selected it after performing comprehensive proof-of-concept and diligence testing.
DZ BANK’s principal solution designer for digital child custody, Nils Christopeit, described:
“In relation to our security, scalability, and future needs in our digital asset child custody initiative for institutional clients, beginning with crypto securities as reported by the German eWpG, Metaco Harmonize has shown to be a effective solution.”
Christopeit was alluding towards the 2021 adoption from the Electronic Securities Act to modernize securities law and also the corresponding supervisory structure in america. On June 10 of this year, the legislation entered effect as an essential part from the federal government’s approved blockchain policy in Berlin.
