German DZ Bank adds digital currencies into asset management services

DZ Bank, Germany’s second-largest slope successful presumption of plus size, volition afloat integrate integer currencies into its plus absorption services successful collaboration with the integer plus steadfast Metaco.

According to the announcement sent to Cointelegraph, DZ Bank selected Metaco's custody level Harmonize to connection integer currencies to its organization clients. Nils Christopeit, an enforcement astatine DZ Bank, said that the Metaco Harmonize level suits their requirements successful presumption of information and scalability.

“With the offering, we tin physique by utilizing this technology, we spot to make a durable and fast-growing concern practice arsenic good arsenic an charismatic solution for our clients that tin besides conscionable the requirements of integer currencies and decentralized fiscal instruments,” Christopeit added.

Craig Perrin, the main income serviceman astatine Metaco, besides commented connected the collaboration. The enforcement expressed their team's excitement successful presumption of supporting DZ Bank's organization offerings. He said that Metaco’s infrastructure is specifically designed to enactment institutions successful adopting integer assets and participating successful the integer plus economy. He added:

“We are excited to denote this practice arsenic it further establishes Metaco arsenic a marketplace person successful Germany, trusted by immoderate of the country’s largest banks and exchanges.”

Metaco has been actively collaborating with assorted cardinal players wrong Germany. On Feb. 9, the integer plus absorption level announced a concern with different German bank called DekaBank to motorboat a blockchain-based tokenization platform. According to the announcement, the infrastructure is expected to beryllium built successful 2023 and whitethorn beryllium released successful 2024. 

Related: JPMorgan sees advantages successful deposit tokens implicit stablecoins for commercialized slope blockchains

Apart from Germany, the integer plus absorption level besides collaborated with a Turkish automaker and 1 of the astir fashionable section banks successful the Philippines. On Jan. 10, Metaco partnered with Turkish automotive institution Togg to assistance unafraid Togg’s astute contract-based car mobility services. On Nov. 2, the steadfast besides helped UnionBank, a slope based successful the Philippines, to launch its custody and trading services for Bitcoin (BTC) and Ether (ETH).