DZ, Germany's Second-Largest Bank, Taps Metaco for Digital Asset Custody

This is the fourth such partnership Metaco has made with major financial institutions in eight months.

AccessTimeIconFeb 23, 2023 at 8:00 a.m. UTC
Updated May 9, 2023 at 4:08 a.m. UTC

DZ Bank, Germany's second-largest lender by assets after Deutsche Bank, has tapped Swiss firm Metaco for its digital asset custody services.

This is the fourth such partnership Metaco has made with major financial institutions in the last eight months. The deal follows pacts with Citibank (C), Societe Generale (GLE) and DekaBank in selecting the Lausanne, Switzerland-based firm to develop digital asset offerings for institutional clients.

DZ will use Metaco's custody tech platform Harmonize to handle its crypto services for institutional clients.

"With the offering we can build by using this technology, we trust to create a durable and fast-growing business cooperation as well as an attractive solution for our clients that can also meet the requirements of digital currencies and decentralized financial instruments," said Nils Christopeit, DZ's digital custody design solution lead.

DZ's digital asset ambitions suggest that crypto enthusiasm remains high among traditional finance entities in Germany in spite of the market downturn in 2022 and the volatility thrown up by events like FTX's dramatic collapse.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.