Discover BBVA Switzerland’s Ripple-Owned Metaco Acquisition

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• Swiss private bank BBVA Switzerland is deepening its collaboration with Ripple-owned Metaco to enhance digital asset offerings.
• The partnership is characterized by speed, efficiency, and top-level governance, aiming to position BBVA as a leader in digital asset services.
• After a $250 million acquisition earlier this year, Metaco, under Ripple’s umbrella, emerges as a significant player in digital asset custody and tokenization.

BBVA Switzerland is deepening its partnership with Metaco, owned by Ripple: All the details about the Metaco and BBVA collaboration!

BBVA Advances Collaboration with Metaco

Swiss private bank BBVA Switzerland is deepening its collaboration with Ripple-owned Metaco to enhance digital asset offerings. According to the announcement, this expansion aims to position BBVA to serve the evolving needs of corporate clients in the dynamic digital asset landscape, utilizing Metaco’s latest technology.

The partnership is characterized by speed, efficiency, and top-level governance, aiming to position BBVA as a leader in digital asset services. BBVA Switzerland, a tier-1 bank in the Eurozone offering crypto services to individual customers, announced a substantial expansion of its partnership with Metaco.

This collaboration, honored with the Celent Model Wealth Manager 2022 award, represents a significant step for BBVA, moving its digital asset operations to Metaco’s Harmonie platform delivered as a software-as-a-service (SaaS) model.

Alfonso Gomez, CEO of BBVA Switzerland, highlighted the transformative impact of their alliance with Metaco. He added that collaborating with Metaco will help them maintain their leading positions by offering the safest and most suitable infrastructure.

Expansive Digital Asset Landscape

After a $250 million acquisition earlier this year, Metaco, under Ripple’s umbrella, emerges as a significant player in digital asset custody and tokenization. BBVA’s seamless transition to Metaco’s corporate-grade Harmonie platform parallels recent collaborations with global giants like HSBC. Particularly, the Metaco-HSBC collaboration indicates a broader trend in the financial sector, emphasizing the adoption of advanced technology for digital asset custody services.

The landscape is rapidly evolving, with institutions like Germany’s DZ Bank adopting Metaco Harmonize for corporate digital asset custody. Moreover, the global impact of Metaco seems evident, as Societe Generale FORGE secures a full DASP license, and UnionBank in the Philippines obtains a VASP license, marking a milestone in the journey. The ripple effect of Metaco’s expertise guides BBVA Switzerland towards a secure and suitable digital future.