DZ BANK | Custody Case Study | Metaco

Dr. Holger Meffert – Head of Securities Services and Digital Custody at DZ BANK and Kolja Gerlach – Project Lead Digital Custody at DZ BANK speak about the bank's strategic vision behind launching a digital asset custody platform, underpinned by Metaco’s technology infrastructure.

In the ever-evolving financial landscape, the convergence of traditional banking and blockchain technology has opened doors to new opportunities. DZ BANK, the central institution to the Volksbanken Raiffeisenbanken cooperative financial network and one of the largest banking groups in Germany, has embraced this transformation, pioneering innovative digital asset use cases over the past years.

DZ BANK, a BaFin regulated financial institution and a leading custody provider in Germany, has always prioritized regulatory compliance and security. The bank recognized the potential of digital assets and embarked on a journey to create a secure, compliant and scalable solution for institutional clients in the space of crypto securities and digital currencies.

With assets under custody of more than EUR 300 billion, DZ BANK is the third-largest depositary in Germany and the largest among German depositaries.

Taking a top-tier bank live in less than 9 months:
As initially announced in February 2023, Metaco Harmonize™ was the chosen infrastructure platform to bring DZ BANK’s vision to life. The decision came after an extensive proof-of-concept and diligence process that evaluated the platform, which concluded that Harmonize is perfectly aligned with DZ BANK’s requirements around security, scalability and optionality for adapting fast to any changes in the future.

Metaco's digital asset custody and orchestration platform, Harmonize™, has played a pivotal role in empowering the launch of DZ BANK’s institutional digital asset custody offering, which went live in October 2023.

Metaco is proud to have played a role in powering DZ BANK’s digital asset custody platform. Our state-of-the-art software infrastructure is at the heart of this transformative journey, aligning seamlessly with DZ BANK’s vision for a secure, regulated, and scalable digital asset custody ecosystem.

The cooperation between DZ BANK and Metaco marks a significant milestone in the journey toward merging traditional finance with the digital asset economy. DZ BANK’s go-live announcement for its institutional digital asset custody offering is a testament to the successful relationship between two entities that prioritize regulatory compliance, security, and innovation.