BBVA Switzerland Partners with Metaco's Harmonize for Crypto Custody Operations
BBVA Switzerland, the Swiss branch of a major Spanish bank, has chosen to use Metaco's Harmonize platform for its institutional crypto custody operations. The bank, which has been offering Bitcoin and Ether custody since 2021, decided to migrate its infrastructure to Harmonize for increased agility and security. Harmonize allows BBVA to connect to blockchains other than Bitcoin and Ethereum, potentially expanding its crypto service offering. The platform also opens up possibilities for BBVA to offer new services in the future, such as trading of other crypto assets or the tokenization of traditional assets. Metaco's Harmonize platform has gained traction in the industry, with other banks such as HSBC partnering with the tech firm to integrate Harmonize into their custody services. Metaco was acquired by Ripple in 2023 for $250 million. The partnership between BBVA and Metaco began in 2021 when the tech firm helped BBVA Switzerland launch its crypto custody and trading services.
