BBVA Switzerland, the Swiss branch of a major Spanish bank, has announced its partnership with Ripple-owned tech firm Metaco. The bank will be using Metaco’s Harmonize platform for its cryptocurrency custody operations with institutional investors. This move comes after BBVA has been providing custody services for Bitcoin and Ether since 2021.
The migration to Harmonize will provide BBVA with increased agility and security in its transaction validation process. The platform also allows the bank to connect to blockchains other than Bitcoin and Ethereum, potentially expanding its crypto service offerings in the future.
Metaco’s Harmonize platform has gained traction in the banking industry, with HSBC also partnering with the tech firm to integrate it into its custody service for digital assets. Metaco has established partnerships with other major financial institutions, including DZ Bank, Societe Generale, and UnionBank.
BBVA’s collaboration with Metaco began in 2021 when the tech firm assisted the bank in launching crypto custody and trading services for individual clients. This made BBVA the first tier-1 bank in the eurozone to offer such services.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇪🇸 🇨🇠|
| Sentiment | very positive |
| Relevance Score | 1 |
| People | None |
| Companies | HSBC, Societe Generale, DZ Bank, UnionBank, Ripple, BBVA Switzerland, Metaco |
| Currencies | Bitcoin, Ethereum |
| Securities | None |
