Capital markets News

Liechtenstein’s VP Bank partners Metaco for digital asset custody, tokenization

digital asset custody

Today Metaco announced yet another new banking partner, VP Bank. The Liechtenstein private bank with CHF 46 billion ($51bn) in assets under management will use Metaco’s Harmonize to expand its digital asset custody and tokenization services.

To serve the demands of clients in its wealth division, the bank has already been tokenizing physical collectible items, such as art and jewelry, after developing a solution with consultants GFT. Now with the integration of Metaco’s solution into its core banking platform, the aim is to support the tokenization of financial assets, including minting, burning and custody of tokens.

“At VP Bank, we are committed to rethink wealth management by combining traditional banking with digital ecosystems to create whole new services and opportunities for our clients,” said Marcel Fleisch, Chief Product Officer at VP Bank. “By partnering with Metaco to offer a secure and scalable platform to tokenize and custody all types of financial, digital and real-world assets, we take a new major step towards building VP Bank’s foundation of the future.”

After Metaco received early backing from Standard Chartered in 2020, it has signed up a raft of big name banks during the last nine months, including CitiSociete Generale ForgeBNP Paribas Securities ServicesDZ Bank and DekaBank.

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