Citi Group has announced today that it has partnered with METACO to develop its digital asset custodian capabilities.
The partnership will bring together Citi’s expansive custody network and METACO’s digital solutions and technology to develop a platform that allows clients to share and settle digital assets securely and seamlessly.
The integration means Citi will be integrating the METACO’s orchestration and bank-trade digital asset custody platform. It will use the platform to build and develop its digital asset custody system for users.
Citi To Extend Its Services To Digital Assets
Global Head of Securities ay Citi, Okan Pekin, while commenting on the development, stated that the company has seen increased digitalization of traditional investment assets. As a result, it’s important to provide a custody solution to assist users in maintaining and managing their digital assets He added that the company will innovate and develop new capabilities that will provide support to various digital asset classes to meet the needs of clients.
Siti explained that demand for digital asset custody has increased over the years. As a result, it has entered the custodial market for this class of asset. But while offering such a service, it will be leveraging the best-in-class technology in the industry. This makes its partnership with METACO a unique one, as the firm is the technology leader in the industry. The technological capacity developed through the partnership will be very important for Citi’s digital asset strategy for its Institutional Asset Group.
Bridging The Gap Between Traditional And Digital Assets
Founder and Chief Executive Officer of METACO, Adrien Treccani, also commented on the development. He stated that the team is excited about the collaboration with Citi, one of the biggest securities services firms in the region. He noted that METACO will be supporting the company in its goals to provide a bridge between digital and traditional assets. This initiative is a market-defining moment for institutional adoption of digital assets,” Treccani added.
This will not be the first time METRACO is supporting such implementations. The technology provider has collaborated with other entities and regulators in the past, including BeFin, FINMA, and Banco de Espana.
