In the past few days, digital asset provider Metaco announced its partnership with the Private Bank of Liechtenstein! With Metaco and VP Bank Partnership, Metaco has agreed with the fifth bank to provide digital asset services.
Metaco and VP Bank Partnership
According to a recent email shared by Metaco, Metaco has partnered with the Liechtenstein private bank VP Bank (VPBN).
VP Bank will receive support from Metaco for its Harmonize platform to expand its digital asset custody and tokenization services. The Lender Firm VP Bank had already started tokenization and custody of physical assets as part of its digital asset strategy by 2021. Now with the Metaco and VP Bank Partnership, it wants to expand its activities in token minting, burning, and storage, as well as supporting tokenized financial assets.
VP Bank Came Fifth
VP Bank is the fifth bank to select Metaco to support the service development of its digital assets. Prior to VP Bank, Metaco’s partners were Citibank (C), Societe Generale (GLE), DekaBank, and DZ Bank.
Following the collapse of prominent crypto-friendly banks Silvergate and Signature last month, the emergence of traditional finance (TradFi) firms offering similar services with the help of companies like Metaco could provide an alternative.
Metaco chief growth officer Seamus Donoghue said: “The bank-grade orchestration capabilities of the Harmonize platform enables the secure management of a range of digital asset use cases, allowing banks and financial institutions to satisfy the demand for new asset classes and expand their business model in any direction.”
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