Citi partners METACO to develop digital asset custody capabilities
US multinational investment bank Citi has partnered with Swiss tech firm METACO to develop and pilot digital asset custody capabilities.
Citi will utilise METACO’s digital asset custody and orchestration platform, Harmonize
The arrangement will bring together METACO’s tech and digital solutions with Citi’s custody network to develop a platform that will enable clients to store and settle digital assets securely.
Citi intends to fully integrate METACO’s bank-grade digital asset custody and orchestration platform, Harmonize, into its existing infrastructure.
Harmonize is an orchestration system for digital assets covering cryptocurrency custody and trading to tokenisation, staking and smart contract management.
Citi’s global head of securities Okan Pekin says: “We are witnessing the increasing digitisation of traditional investment assets along with new native digital assets. We are innovating and developing new capabilities to support digital asset classes that are becoming increasingly relevant to our clients.”
Citi says the partnership will allow it to expand securely and effectively into new markets, while utilising its existing global operations, technology and risk frameworks.
METACO founder and CEO Adrien Treccani says the partnership with Citi – one of the largest securities services firms – will “bridge digital and traditional assets”.
“This initiative is a market-defining moment for institutional adoption of digital assets,” Treccani adds.
Citi Securities Services claims more than $27 trillion of assets under custody, administration and trust, and a proprietary network spanning 63 markets.
Founded in 2015 in Switzerland, METACO is a tech company that enables financial and non-financial institutions to securely manage their digital assets.
