DZ Bank, one of Germany\u2019s largest banks has decided to launch its Digital Asset Custody platform for institutional clients and as such, has unveiled its plans to leverage <\/a><\/span>Ripple\u2019s technology for the offerings.\u00a0<\/span><\/p>\n Recently, the traditional financial system has continued its evolutionary trends but this time, with the integration of blockchain technology. Many conventional financial institutions are showing interest in crypto and its affiliated innovations and businesses. In light of this new demand, the central institution of the Volksbanken Raiffeisenbanken cooperative financial network popularly known as DZ Bank AG has tapped into the trend.<\/span><\/p>\n <\/p>\n The German bank made the groundbreaking announcement that its commercial digital asset custody offering for institutions was going live recently. Notably, the news marked a huge milestone as DZ Bank is on its way to becoming one of the first regulated banks in Germany to launch such crypto-related offerings to institutional customers.\u00a0<\/span><\/p>\n As part of its new capacity, DZ BANK can now act as a crypto custodian for institutional clients, settling and holding crypto securities as regulated under the German Electronic Securities Act.<\/span><\/p>\n <\/p>\n Metaco which was recently acquired<\/a><\/span> by Ripple Labs noted that DZ Bank is utilizing Harmonize\u2122, its digital asset custody and orchestration platform for the offering. This partnership was first announced in February after an extensive Proof-of-Concept and diligence process that evaluated the platform was conducted. After so much scrutiny, it was decided that Ripple\u2019s Metaco was the right choice for DZ Bank.<\/span><\/p>\n <\/p>\n The alignment of Harmonize with DZ BANK\u2019s requirements around security, scalability, and optionality for adapting fast to any changes in the future was considered in the bid to make a decision. The Ripple subsidiary noted that\u00a0<\/span><\/p>\n \u201cHarmonize\u2122 has played a pivotal role in empowering the launch of DZ BANK\u2019s institutional digital asset custody offering, which recently went live,\u201d per details from a Press release, adding that its alignment with DEZ Bank \u201csignifies a major milestone in the journey towards merging traditional finance with the digital asset economy,\u201d\u00a0<\/span><\/p>\n Ripple Labs\u2019 Metaco<\/a> acknowledged DZ Bank as one of the few institutions that has always prioritized regulatory compliance and security. <\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <!– <\/p>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n –><\/p>\n –><\/p>\n Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n <!– <\/p>\nRipple Driving Fusion of Crypto and Finance<\/strong><\/h2>\n
DZ Bank and Metaco Harmonize<\/strong><\/h2>\n
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