Citi has picked Swiss crypto custody player Metaco to help it develop and pilot a platform that lets clients store and settle digital assets.
Citi will fully integrate Metaco's bank-grade digital asset custody and orchestration platform, Harmonize, into its existing infrastructure, to develop and pilot digital asset custody capabilities.
The bank says the partnership enables it to move into offering digital asset services while tapping into its current technological, operating and servicing model. It is understood the bank is exploring custody capabilities for tokenised securities, specifically.
“We are witnessing the increasing digitisation of traditional investment assets along with new native digital assets. We are innovating and developing new capabilities to support digital asset classes that are becoming increasingly relevant to our clients,” says Okan Pekin, global head, securities services, Citi.