Citi announced that it has selected METACO to develop and pilot digital asset custody capabilities. Citi intends to fully integrate METACO’s bank-grade digital asset custody and orchestration platform, Harmonize, into its existing infrastructure, to develop and pilot digital asset custody capabilities.
“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, in a statement.
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.
Adrien Treccani, CEO and founder of METACO, said in a statement: “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.”
METACO has supported several key implementations, including those regulated by Swiss, German, UK, Singapore and Spain authorities.