BBVA in Switzerland has migrated its digital assets operations to Metaco’s Harmonize, the company’s custody and orchestration platform.
This will allow the bank to enhance its digital asset and private key custody provisions, the firm says, granting institutional clients greater flexibility within their digital asset operations and contributing to an overall improvement around security policies.
Harmonize is integrated on wealth management technology firm Avaloq’s crypto assets platform and core banking system. The two organisations will develop and deploy BBVA’s digital assets servicing through a software-as-a-service model, improving speed, efficiency and governance as the bank continues to develop its work in this space.
In 2021, BBVA became the first Tier 1 bank in the Eurozone to offer custody and trading services for cryptocurrencies. It has since continued to develop its blockchain services, and has maintained a focus on client education in the digital asset space.
Alfonzo Gómez, CEO of BBVA in Switzerland, says: “Our partnership with Metaco, which will fully integrate our existing infrastructure within Avaloq, allows us to stay ahead of the market, offering the most secure and compliant infrastructure.”
Adrien Treccani, founder and CEO of Metaco, comments: “Metaco and BBVA Switzerland have had a longstanding history of partnership, and we are proud to bring our partnership to new heights.”
