DZ Bank, the second-largest German bank by assets, is set to offer digital asset custody services to its institutional clients. The BaFin-regulated financial institution and custody provider has partnered with Swiss firm Metaco and orchestration platform Harmonize to provide the service. According to Nils Christopeit, Lead Solution Design Digital Custody at DZ Bank, Harmonize was selected through an extensive proof-of-concept and diligence process and has proven to be a powerful solution.
DZ Bank has €297 billion in assets under custody, making it one of Germany’s largest custodians. Metaco has also partnered with DekaBank to launch a blockchain-based tokenization platform and with Citibank and Societe Generale to provide institutional clients with access to digital asset offerings. This move by DZ Bank is part of a larger trend of financial institutions embracing digital assets and blockchain technology. With the support of these major players, digital assets are becoming increasingly accessible to institutional clients.
