DekaBank manages €360 billion in assets and plans to offer crypto products to its institutional clients. The German lender is joining Societe Generale and Citibank in selecting Swiss-based Metaco (website) to develop its digital asset offering for institutional clients, according to a CoinDesk report.
Subject to regulatory approval, Frankfurt-based DekaBank will use the Swiss company’s Harmonize custody technology and orchestration platform to handle its crypto custody and asset management activities.
“Digital assets are a critical part of the future, a radical new way of representing assets, from currencies to real estate,” said Andreas Sack, product manager for digital asset custody at DekaBank. “Today, we are taking another important step to lay the foundation for our institutional investors and millions of people in Germany to access this transformative opportunity.”
DekaBank is one of the largest providers of securities services in Germany. It focuses on custody, capital market and asset management solutions for the Sparkassen-Finanzgruppe.