Liechtenstein’s VP Bank expands digital asset capabilities with Metaco
VP Bank, one of Liechtenstein’s largest private banks, has tapped digital asset software and infrastructure provider Metaco to expand its digital asset custody and tokenisation services.
VP Bank leverages Metaco’s Harmonise platform
VP Bank, which offers investment and asset management for private clients and high net worth individuals, already offered digital asset services for art and collectables such as jewels, paintings, watches and sculptures.
Utilising Metaco’s Harmonize platform, which is fully integrated into the bank’s core banking system, VP Bank has extended its digital asset custody and tokenisation services into financial assets, as well as the minting, burning and storage of tokens.
Metaco’s Harmonize platform allows VP Bank to scale its digital asset services while adhering to the Token and Trusted Technology Service Provider Act (TVTG), a Liechtenstein law that states tokens held in custody must be held separately from corresponding users.
Metaco chief growth officer Seamus Donoghue says the Harmonize platform allows banks and financial institutions to meet demand for new asset classes and expand their business model “in any direction”.
VP Bank has six locations across Europe and Asia and has more than CHF 46 billion in assets under management as of the end of 2022.
