DZ BANK adopts Metaco’s Harmonize 23 February 2023Germany Reporter: Lucy Carter
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German banking group DZ BANK has selected technology provider Metaco’s Harmonize platform to develop its digital asset management offering.
Harmonize supports several types of digital assets, including tokenised securities and digital currencies. DZ BANK will integrate these offerings into its existing asset management services for institutional investors.
The platform’s governance framework includes customisable risk and compliance controls and segregates business units and clients to isolate policies, users, accounts and assets.
DZ BANK is the latest to adopt Metaco’s Harmonize, with DekaBank and Togg onboarding the platform in January 2023.
Nils Christopeit, lead solution design for digital custody at DZ BANK, says: “In terms of our security, scalability, and future requirements of our digital asset custody initiative for institutional clients, starting with crypto securities as per the German ‘Act to introduce electronic securities’ (eWpG), Metaco Harmonize has proven to be a powerful solution that can support our intended operating model.
“We trust to create a durable and fast-growing business cooperation as well as an attractive solution for our clients that can meet the requirements of digital currencies and decentralised financial instruments."
Craig Perrin, chief sales officer at Metaco, comments: “Metaco’s digital asset technology infrastructure is purposely designed to support financial institutions to capitalise on the digital asset economy. We are excited to announce this cooperation as it further establishes Metaco as a market leader in Germany.”
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