Switzerland-based fintech METACO will work with Citi to develop a platform to enable clients that use the global bank’s custody network to store and settle digital assets “seamlessly and securely”.
Citi plans to fully integrate METACO’s digital asset custody and orchestration platform, Harmonize, into its existing infrastructure, to develop and pilot the capabilities.
The technology capabilities developed under the partnership will be deployed in Citi’s institutional client group.
Okan Pekin, global head of securities services at Citi, commented: “We are witnessing the increasing digitisation 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.”
Adrien Treccani, chief executive officer and founder of METACO, added: “We are pleased to team up with Citi, one of the largest securities services firms, to support them in their vision to bridge digital and traditional assets. This initiative is a market-defining moment for institutional adoption of digital assets.”