{"id":14180,"date":"2023-11-23T08:24:30","date_gmt":"2023-11-23T08:24:30","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=14180"},"modified":"2023-11-23T08:24:32","modified_gmt":"2023-11-23T08:24:32","slug":"bbva-switzerland-selects-ripple-owned-metaco-to-power-digital-asset-operations","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=14180","title":{"rendered":"BBVA Switzerland selects Ripple-owned Metaco to power digital asset operations"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>BBVA Switzerland, the Swiss subsidiary of the Spanish banking behemoth BBVA, has announced a strategic partnership with Ripple-owned Metaco to build its digital asset operations via the latter\u2019s Harmonize platform, according to a social media announcement.<\/p>\n<p>BBVA\u2019s Swiss unit is the latest in a string of prestigious banks that have entered deals with Metaco in recent months. HSBC is set to launch a custody service for tokenized securities in collaboration with Metaco by 2024. The service will initially be geared toward institutional clients.<\/p>\n<p>Meanwhile, Germany-based DekaBank and DZ Bank, as well as Liechtenstein\u2019s VP Bank, have adopted Metaco\u2019s Harmonize solution, marking a trend among financial institutions toward embracing digital asset solutions.<\/p>\n<p>These partnerships reflect Metaco\u2019s expanding role in facilitating the digital asset endeavors of leading financial institutions.<\/p>\n<h2>BBVA partnership<\/h2>\n<p>BBVA Switzerland\u2019s partnership with Metaco is unique in its deployment and development approach. The bank will utilize Metaco\u2019s services through a Software-as-a-Service (SaaS) model.<\/p>\n<p>The collaboration is further strengthened by Metaco\u2019s partnership with Avaloq, a Swiss wealth-tech firm holding a 10% stake in Metaco since 2018 and functioning as a subsidiary of Japan\u2019s NEC Corporation.<\/p>\n<p>Avaloq\u2019s role is pivotal in the alliance, as its cryptocurrency assets platform and core banking system are fully integrated with Harmonize. BBVA Switzerland will build and expand its digital asset operations on top of the foundation built by Avaloq.<\/p>\n<p>BBVA Switzerland has been a frontrunner in the digital assets domain. In June 2021, the private bank introduced cryptocurrency trading and custody services for its Swiss clientele.<\/p>\n<p>BBVA Switzerland CEO Alfonso G\u00f3mez said the new partnership will enhance the bank\u2019s digital asset operations with greater speed, efficiency, and governance standards, keeping the bank at the forefront of market trends.<\/p>\n<h2>Harmonize<\/h2>\n<p>Harmonize debuted in April 2021, is an innovative digital asset custody and orchestration platform. It serves as a comprehensive solution for institutional clients, enabling seamless integration of various digital asset use cases into their existing infrastructure.<\/p>\n<p>These use cases include decentralized finance (DeFi), tokenization, cryptocurrency custody, and smart contract management.<\/p>\n<p>The platform comprises several key components, including Metaco Vaults, a self-custody solution; Metaco Trades, an order management system; Metaco Tokens, a framework for smart contract management; and Metaco Flows, which links clients to a network of sub-custodians.<\/p>\n<p>All of these work in unison to provide an encompassing digital asset management experience.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/bbva-switzerland-selects-ripple-owned-metaco-to-power-digital-asset-operations\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BBVA Switzerland, the Swiss subsidiary of the Spanish banking behemoth BBVA, has announced a strategic partnership with Ripple-owned Metaco to build its digital asset operations via the latter\u2019s Harmonize platform, according to a social media announcement. BBVA\u2019s Swiss unit is the latest in a string of prestigious banks that have entered deals with Metaco in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-14180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14180"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14180\/revisions"}],"predecessor-version":[{"id":14182,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14180\/revisions\/14182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/14181"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}