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BBVA Switzerland enhances digital asset operations with Ripple-owned Metaco

Genesis seeks authorization to sell $1.6 billion in trust assets

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TL;DR

  • BBVA Switzerland collaborates with Ripple-owned Metaco to advance its digital asset operations, utilizing the Harmonize platform.
  • The partnership integrates Metaco’s solutions with Avaloq’s system, enhancing BBVA’s digital asset and private key custody capabilities.

BBVA Switzerland, a branch of the renowned Spanish financial institution BBVA, has recently advanced its digital asset operations by partnering with Metaco, a company owned by Ripple. This collaboration is centered around the use of Metaco’s Harmonize platform, a move signaling BBVA’s increasing commitment to the growing sector of digital finance/ 

Expanding digital asset capabilities

The integration of BBVA Switzerland’s digital asset operations with Metaco’s Harmonize platform marks a pivotal moment in the bank’s technological evolution. Harmonize, known for its institutional-grade digital asset custody and orchestration capabilities, is now fully integrated with Avaloq’s Crypto Assets platform and Core Banking system. This integration not only strengthens BBVA’s ability to manage digital assets and private keys but also signifies a leap forward in security and operational flexibility, particularly for its institutional clients.

BBVA Switzerland’s journey into the blockchain ecosystem has been noteworthy. The bank distinguished itself as a pioneer in 2021, becoming the first major bank in the Eurozone to provide a blend of cryptocurrency custody and trading services along with traditional asset management. This move into digital asset management aligns with BBVA’s broader strategy of enhancing its blockchain offerings and committing to educating its clients about this rapidly evolving space.

Strategic Partnership for Future Growth

This strategic partnership with Metaco and Avaloq symbolizes a significant step for BBVA in staying at the forefront of the digital asset market. As Alfonso Gómez, CEO of BBVA Switzerland, notes, the collaboration ensures that the bank’s infrastructure remains both secure and compliant, catering to the dynamic needs of the market. This partnership is not just about expanding current offerings but also about setting the stage for future innovations in digital assets.

Adrien Treccani, Founder and CEO of Metaco, reflects on the evolving partnership with BBVA Switzerland, emphasizing the mutual commitment to pushing the boundaries of digital asset management.

The harmonize advantage

Harmonize emerged in April 2021 as a forward-thinking solution in digital asset custody and orchestration. The platform is designed to seamlessly integrate with various digital asset applications, such as decentralized finance (DeFi), tokenization, cryptocurrency custody, and smart contract management, into the existing infrastructure of institutional clients.

It comprises critical elements like Metaco Vaults for secure self-custody, Metaco Trades for efficient order management, Metaco Tokens for managing smart contracts, and Metaco Flows, which connect clients with a network of sub-custodians. These components collectively provide a comprehensive digital asset management ecosystem.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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