METACO Harmonize Selected by DekaBank as Core Platform for Institutional Digital Asset Offering
LAUSANNE, Switzerland, Jan. 31, 2023 /PRNewswire/ -- METACO, the market-leading provider of digital asset custody and orchestration technology to complex, regulated financial institutions, today announces that is has partnered with DekaBank, the leading provider of securities services and capital market solutions to the German Savings Banks Finance Group (Sparkassen-Finanzgruppe), to underpin and orchestrate DekaBank's digital asset custody and management operations.
METACO's technology to enable asset manager to launch digital asset custody service, subject to receiving licence from the regulator
LAUSANNE, Switzerland, Jan. 31, 2023 /PRNewswire/ -- METACO, the market-leading provider of digital asset custody and orchestration technology to complex, regulated financial institutions, today announces that is has partnered with DekaBank, the leading provider of securities services and capital market solutions to the German Savings Banks Finance Group (Sparkassen-Finanzgruppe), to underpin and orchestrate DekaBank's digital asset custody and management operations.
Following a rigorous selection process and proof-of-concept, METACO's custody and orchestration platform, Harmonize™ was selected by DekaBank to manage its digital asset operations. Developed in partnership with Tier 1 banks, Harmonize enables the commercial launch of complex banking value propositions around digital assets, such as custody of cryptocurrencies and digital securities, underpinned by institutional-grade security and compliance standards.
With over €360 billion Euros in assets under management, DekaBank is a key provider of securities services in Germany, providing a broad range of services including custody, asset management and capital market solutions to the German Saving Banks Finance Group. DekaBank's digital asset custody services will offer a safe and compliant value proposition to its extensive network of savings banks––with the highest standards of security. The unique key management-agnostic capabilities of the Harmonize platform, underpinned by its fully configurable governance engine which will allow DekaBank to define its own policies, in a scalable way, were among the critical criteria in the selection process.
Germany offers an innovative, yet strictly regulated environment for digital asset services, with service providers required to apply for licenses through the country's Federal Financial Supervisory Authority (BaFin). METACO's technology solutions are already in productive use with regulated financial institutions.
Andreas Sack, Product Owner Digital Assets Custody at DekaBank, commented, "Digital assets are a critical part of the future, a radical new way for how assets will be represented, from currencies to real estate. Today we make another important step towards laying the foundation for giving our institutional investors and millions of people in Germany access to this transformational opportunity. METACO is the right partner for DekaBank to create new services that are secure, compliant, and future-proof."
Adrien Treccani, CEO and Founder of METACO, commented, "This partnership continues to establish METACO as the leading custody and orchestration technology provider for global, regulated financial institutions looking to quickly scale institutional-grade digital asset servicing."
METACO has significant Tier 1 and Tier 2 bank implementations in various regulatory jurisdictions across Europe, Asia Pacific, Middle East and North America, and established itself as a leading technology provider to financial institutions and corporations in the digital asset ecosystem.
About METACO
Founded in 2015 in Switzerland, METACO is a technology company whose mission is to enable financial and non-financial institutions to securely manage their digital asset business and capitalize on the burgeoning digital asset economy. The company's core product, Harmonize, is an orchestration system for digital assets. From cryptocurrency custody and trading to tokenization, staking and smart contract management, the platform seamlessly connects institutions to the new world of decentralized finance (DeFi).
METACO has established itself as the Tier 1 banking standard, trusted by and in live production with global custodians, exchanges, and private and universal banks. Its software, technology and infrastructure solutions enable financial institutions to store, trade, issue and manage digital assets, with the highest possible security and agility.
For more information, visit www.metaco.com
About DekaBank
DekaBank is the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe). Together with its subsidiaries it forms Deka Group. With total customer assets of EUR 363 billion (as at 30/09/2022) and more than 5,2 million securities accounts, DekaBank is one of the largest securities services providers and real estate asset managers in Germany. DekaBank is a wholly owned subsidiary of the German Sparkasse savings banks and forms an integral part of the Sparkassen-Finanzgruppe.
For more information, visit deka.de
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