DZ Bank adds digital currencies to its asset management services

Germany-based asset manager DZ Bank has partnered with Switzerland-based Metaco to include digital asset management into its service portfolio

Germany-based asset manager DZ Bank has partnered with Switzerland-based Metaco to include digital asset management into its service portfolio. In order to be able to provide digital currencies to its institutional clients, DZ Bank has decided to leverage Metaco’s custody platform Harmonize, particularly since the platform is in line with the bank’s security and scalability requirements.

DZ Bank executives cited by ffnews. com revealed their plans to foster a long-lasting business cooperation while providing an attractive solution for their clients that would be in line with current digital currencies and decentralized financial instruments. Metaco officials emphasised the willingness of their team to support DZ Bank’s institutional offerings.

The Harmonize platform was specifically designed to support institutions adopting digital assets and participating in the digital asset economy. Metaco relies on an agnostic model that supports different deployment methods, as well as a hardware-enforced key management infrastructure. The system is able to secure multiple types of digital assets such as tokenized securities like bonds and equities.

The Harmonize platform comprises a flexible governance framework with customisable compliance and risk controls, with full segregation of multiple business units and clients in order to guarantee the isolation of users, policies, accounts, and assets. Other noteworthy Metaco partnerships According to cointelegraph. com, in February 2023, Metaco partnered with Germany-based DekaBank to launch a blockchain-based tokenization platform.

DekaBank wants to have the infrastructure for the project ready in 2023, while the platform itself would launch sometime in 2024. The upcoming offering will focus on tokenizing assets such as bonds, stocks and funds in order to support a new token economy. Metaco also worked with Turkish automaker Togg and deployed Harmonize in order to protect the custody and governance of Togg’s digital assets.

Togg operates a mobility-as-a-service platform that delivers smart contract-powered use cases such as tokenization of mobility services, assessments of CO2 footprints, and the ownership of nonfungible tokens. Hosted over IBM Cloud, Metaco’s platform gives Togg complete control of its encrypted data, encryption keys and workloads. The official announcement also revealed that Harmonize is equipped with compliance standards used by Tier 1 banks dealing with digital assets.

In November 2022, Philippines-based UnionBank launched a Bitcoin and Ether custody and trading services pilot programme in partnership with Metaco. This new investment and trading feature leveraged the Harmonize digital asset platform. At the time, the partnership followed a statement from Philippine President Ferdinand Marcos, in which he noted the importance of adopting blockchain technology in order to improve digital banking and digital transactions.


Feb 23, 2023 13:30
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