Metaco joins forces with Citi bank

As the leading technology provider to financial institutions, METACO enables its customers to securely manage their digital asset business and capitalize on the burgeoning digital asset economy. Its platform Harmonize enables institutions to manage a range of end-to-end digital asset use cases from cryptocurrency custody and trading to tokenization, smart contract management and decentralized finance (DeFi). The startup has supported several key implementations, including FINMA, BaFin, FCA, Banco de España, and MAS-regulated institutions.

Citi banks has also selected Metaco to develop institutional digital asset custody capabilities. Citi intends to fully integrate METACO’s, Harmonize, into its existing infrastructure, to develop and pilot digital asset custody capabilities.

This collaboration brings together METACO’s technology and digital solutions with Citi’s expansive custody network to develop a platform to enable clients to store and settle digital assets seamlessly and securely. This strategic partnership enables Citi to extend its existing capabilities to digital assets while leveraging its current technological, operating and servicing model.

Citi’s extensive global network, coupled with the power of the Harmonize platform, will allow Citi to expand securely and effectively into new markets, while utilizing 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.

“We are witnessing the increasing digitization 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,” said Okan Pekin, Global Head of Securities Services at Citi.

With over US$27 trillion of assets under custody, administration and trust, and an industry-leading proprietary network spanning 63 markets, Citi Securities Services provides clients with in-depth local market expertise, advanced processing technologies, and a wide range of custody and fund services that can be tailored to meet clients’ needs.