BBVA in Switzerland has extended its collaboration with Metaco and shifted its digital assets activities onto the company’s benchmark digital asset custody platform, Harmonize. The platform is incorporated into Avaloq’s crypto assets platform and main banking mechanism. The framework will provide the option for BBVA to enhance its digital asset and private key custody potential.
This latest occurrence will have an encouraging effect on policies related to safety issues, particularly in the case of institutional clients. They will gain from increased malleability pertaining to their activities with digital assets. In Switzerland, BBVA has become a force to reckon with in the institutional space within the blockchain ecosystem.
In 2021, the financial institution achieved the notable status of being the first TIER 1 Bank in Eurospace. This pertains to the provision of cryptocurrency custody and trading solutions. The bank included this in a compilation of traditional and digital assets. As a result, the bank actively improves its blockchain-based solutions and implements financial education for its customers.
Together, Avaloq and Metco will set up and develop the inventive digital assets offering of the bank in the form of a software as a service (SaaS) module. It will also support upcoming business use cases related to BBVA in the digital asset arena.
According to the CEO of BBVA in Switzerland, Alfonso Gomez, with the help of the collaboration with Metco, they will have the option of totally incorporating their present framework into Avaloq. This will assist them in positioning themselves higher up amongst the competition and bring about quickness, dependability, and a high level of governance.
Adrien Treccani, the founder and chief executive officer of Metaco, asserts that both organizations have a history of establishing partnerships, and that this collaboration will result in additional accomplishments.