VP Bank, one of the largest banks in Liechtenstein, has partnered with digital asset infrastructure provider Metaco to consolidate its digital asset custody and tokenization business.
According to the announcement, VP bank will use Metaco’s Harmonize platform to expand its services and support the minting, burning and storage of tokenized assets. VP Bank Chief Product Officer Marcel Fleisch said in the announcement that the firm is rethinking wealth management using a combination of traditional banking and digital ecosystems. Fleisch stresses that this creates new opportunities and services for its customer base. Seamus Donoghue, Metaco's chief growth officer, also commented on the partnership. According to Donoghue, its platform enables banks and other financial institutions to meet demand for new asset classes. It also allows the bank to expand its business model in any direction, the executive noted.
Donoghue commented: "We are proud that VP Bank, one of the largest banks in Liechtenstein and a future-proof bank for private clients and intermediaries, now relies on Metaco Harmonize to expand its digital asset custody and tokenization services. " Metaco has been expanding its presence across Europe and partnering with key players in the region. On Feb. 9, the token infrastructure provider launched a blockchain-based platform in partnership with Germany’s DekaBank, which is expected to launch in 2024.
On February 23, Metaco partnered with German asset management firm DZ Bank to include digital currencies in its asset management services. On Jan. 10, Metaco also partnered with Turkish automotive technology company Togg to secure its smart contract-powered car mobility service.
In addition to Europe, the digital asset service provider has also expanded its business to Southeast Asia. On November 2, 2022, the company assisted Union Bank of the Philippines to carry out Ether custody transactions and bitcoin.
