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.

DZ Bank, part of Volksbanken Raiffeisenbanken which is one of the largest banking groups in Germany, is going to employ a platform built by Metaco to offer institutional clients services in the field of digital currencies and crypto securities, the fintech announced.

DZ Bank, Germany’s second-largest bank in terms of asset size, will fully integrate digital currencies into its asset management services in collaboration with the digital asset firm Metaco.

Metaco, a provider of crypto custody technology, has hired former-IBM digital asset specialist Peter DeMeo and made several other key appointments as the company shrugs off tough market conditions and prepares to drive the next phase of big-business crypto adoption.

Turkish automotive company Togg announced a partnership with Metaco, a digital asset custody orchestration technology provider, to secure its open mobility ecosystem built on Avalanche.