On June 22, the investment banking company, Citi, announced on Twitter their plans to select METACO to develop and pilot digital asset custody capabilities. This selection will allow Citi to explore the possibility of offering digital asset custody solutions for its clients.
“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.
Citi’s large worldwide network, combined with the capabilities of the Harmonize platform, will enable Citi to enter new markets safely and efficiently while using its current global operations, technology, and risk standards.
This on-going strategic partnership is a significant step forward for both Citi and the blockchain ecosystem. Cryptocurrencies will continue to increase their penetration into the global marketplace and, as adoption of digital assets continues to grow, so too will demand for the safe storage and settlement services provided by Citi.
The European-based company METACO, which started operations in 2014, provides blockchain technology and solutions for the comprehensive management of digital assets. Previously, the business assisted with a number of significant implementations, including those governed by FINMA, BaFin, FCA, Banco de Espaa, and MAS.
