BBVA Switzerland Migrates Digital Asset Custody Service to Metaco's Harmonize™

BBVA Switzerland has built a new partnership with Metaco, a Swiss-based provider of digital asset custody and tokenization technology, to migrate its digital asset custody service to Metaco's Harmonize™ platform.

An orchestration system for digital assets, Harmonize™ is fully integrated as a software as a service (SaaS) on Avaloq's Crypto Assets platform and Core Banking system. Metaco has been acquired by Ripple​, the leader in enterprise blockchain and crypto solutions, in May this year.

"Our partnership with Metaco, which will fully integrate our existing infrastructure within Avaloq, allows us to stay ahead of the market, offering the most robust and compliant platform," said Alfonso Gómez, CEO of BBVA in Switzerland.

BBVA Switzerland introduced a bitcoin trading and custody service in 2021, then it expanded to include ether. This migration offers the bank greater operational agility, maximum security and the ability to connect to other blockchains, which will allow BBVA to continue to scale up services for institutional clients.

"Metaco and BBVA Switzerland have had a longstanding history of partnership, and we are proud to bring our partnership to new heights, enabling awarded digital asset commercial offerings that fit the unique requirements of individuals and institutions," added Adrien Treccani, founder and CEO of Metaco.