VP Bank has partnered with Swiss digital asset technology provider Metaco to expand its digital asset custody and tokenization services through the use of Metaco's Harmonize platform. VP Bank is the fifth major financial institution to partner with Metaco in the last nine months, following Citibank, Societe Generale, DekaBank, and DZ Bank. The bank plans to expand into supporting tokenized financial assets, as well as minting, burning, and storing tokens. The emergence of traditional finance firms offering digital asset services with the help of companies like Metaco could provide an alternative following the collapse of prominent crypto-friendly banks Silvergate and Signature last month.

(By Jamie Crawley)