Germany-focused DekaBank taps METACO for digital asset custody offering

1 year ago 71

METACO has partnered with DekaBank, a 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 custody and orchestration platform, Harmonize, will be deployed by DekaBank to manage its digital asset operations.

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.

The platform has already been selected by several Tier 1 and Tier 2 banks in various regulatory jurisdictions across Europe, Asia Pacific, the Middle East, and North America. FinanceFeeds has covered a few previous partnerships, namely with BNP Paribas, Archax, Union Bank of the Philippines, Mercari, Covario, and IHS Markit.

“A radical new way for how assets will be represented, from currencies to real estate”

Andreas Sack, Product Owner Digital Assets Custody at DekaBank, said: “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.”

DekaBank has over €360 billion Euros in assets under management and offers a broad range of services including custody, asset management and capital market solutions to the German Saving Banks Finance Group.

The firm’s digital asset custody services will offer a safe and compliant value proposition to its extensive network of savings banks by leveraging the Harmonize platform, underpinned by its fully configurable governance engine which will allow DekaBank to define its own policies.

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