Citi selects METACO to develop and pilot digital asset custody
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Citi selects METACO to develop and pilot digital asset custody 23 June 2022United Kingdom Reporter: Jenna Lomax
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Citi has selected METACO to develop and pilot its digital asset custody capabilities.
Citi intends to fully integrate METACO's digital asset custody and orchestration platform, Harmonize, into its existing infrastructure, to develop and pilot digital asset custody capabilities.
The mandate partners METACO’s technology and digital solutions with Citi’s custody network.
Citi’s global network, coupled with the power of the Harmonize platform, will allow Citi to expand securely and effectively into new markets, while utilising its existing global operations, technology, and risk frameworks.
The technology capabilities developed under this partnership will be an integral part of Citi’s institutional client group digital asset strategy, the global bank says.
Okan Pekin, global head of Securities Services at Citi, 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.”
Adrien Treccani, CEO and founder of METACO, comments: “We are pleased to team up with Citi, one of the largest securities services firms, to support them in their vision to bridge digital and traditional assets. This initiative is a market-defining moment for institutional adoption of digital assets.”
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