Citibank has picked Swiss cryptocurrency custody company METACO to create and test digital asset custody solutions for it.
The bank will fully integrate METACO’s bank-grade digital asset custody and orchestration platform “Harmonize”.
“We are innovating and developing new capabilities to support digital asset classes that are becoming increasingly relevant to our clients,” said Okan Pekin, the Global Head of Securities Services at Citi.
The announcement concerns Citi’s Securities Services team meaning that collaboration will lead to development of tokenized securities.
Adrien Treccani, the CEO and Founder of METACO said, “We are pleased to team up with Citi, one of the largest securities services firms, to support them in their vision to bridge digital and traditional assets. This initiative is a market-defining moment for institutional adoption of digital assets.”
Utilizing its present technological, operational, and servicing strategy, this strategic collaboration enables Citi to expand its current capabilities to digital assets.
Leveraging its current worldwide operations, technology, and risk frameworks, Citi will be able to expand securely and successfully into new areas thanks to the strength of the Harmonize platform and its broad global network.
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