by Fintechnews Switzerland
November 22, 2023
BBVA in Switzerland has successfully migrated its digital assets operations to Metaco’s institutional-grade digital asset custody and orchestration platform, Harmonize which is fully integrated on Avaloq’s Crypto Assets platform and Core Banking system. This infrastructure will allow BBVA to further develop its digital asset and private key custody capabilities.
This new development will have a positive impact on security policies, especially for the institutional client, who will have much greater flexibility in their operations with digital assets. BBVA in Switzerland has become a key player in the institutional network in the blockchain ecosystem. In 2021, the Bank became the first TIER 1 Bank in the Eurozone to provide custody and trading services for cryptocurrencies, under a combined portfolio across traditional and digital assets. Since that time, the Bank has not only been working on improving its blockchain services, but also on its commitment to provide financial education in this area to its clients.
Avaloq and Metaco work in close collaboration to deploy and develop the bank’s innovative digital assets offering in a software as a service (SaaS) model. This latest upgrade will also support future business use cases for BBVA in the realm of digital assets.
Alfonso Gómez
Alfonso Gómez, CEO of BBVA in Switzerland, highlights that
“our partnership with Metaco, which will fully integrate our existing infrastructure within Avaloq, allows us to stay ahead of the market, offering the most secure and compliant infrastructure”.
This collaboration will provide more speed, efficiency and the highest standard of governance as the Bank accelerates digital assets offerings for its institutional clients.
Adrien Treccani
“Metaco and BBVA Switzerland have had a longstanding history of partnership, and we are proud to bring our partnership to new heights,”
says Adrien Treccani, Founder and Chief Executive Officer at Metaco.
With this deployment, the Bank expands its partnership with its technological partners Metaco and Avaloq, as both of them deepen their collaboration on digital asset custody capabilities.
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