Liechtenstein’s VP Bank taps Metaco to expand custody and tokenization services

VP Bank, one of the largest banks in Liechtenstein, has partnered with digital asset infrastructure provider Metaco to consolidate its digital asset custody and tokenization operations. 

According to an announcement, VP bank will use Metaco’s Harmonize platform to expand its services, and enable support for tokenized asset minting, burning and storage. Marcel Fleisch, the chief product officer at VP Bank, said in the announcement that the company is rethinking wealth management using a combination of traditional banking and digital ecosystems. Fleisch highlighted that this creates new opportunities and services for its client base.

To optimise services in the field of  of art and other physical assets, VP Bank has partnered with @metaco_sa, the leading provider of digital asset technology infrastructure for regulated financial institutions.#tokenisation #technology #collaboration pic.twitter.com/nSuGrYrEsq

— VP Bank AG (@vpbank) April 4, 2023

Metaco’s chief growth officer Seamus Donoghue also commented on the collaboration. According to Donoghue, its platform lets banks and other financial institutions meet the demand for new asset classes. The executive noted that this also allows banks to expand business models in any direction.

“We are proud that VP Bank, one of the largest banks in Liechtenstein and a future-oriented bank for private clients and intermediaries, is now relying on Metaco Harmonize to scale its digital asset custody and tokenization services,” Donoghue commented.

Related: Boerse Stuttgart Digital subsidiary receives final approval for crypto custody

Metaco has been expanding its presence all over Europe, collaborating with key players in the region. On Feb. 9, the token infrastructure provider partnered with Germany’s DekaBank to launch a blockchain-based platform expected to be released in 2024.

On Feb. 23, Metaco collaborated with German asset manager DZ Bank to include digital currencies in its asset management services. On Jan. 10, Metaco also partnered with Togg, a Turkish automotive technology firm, to secure its auto mobility services powered by smart contracts.

Apart from Europe, the digital asset service provider also extended its arms to Southeast Asia. On Nov. 2, 2022, the company assisted the UnionBank of the Philippines in launching custody and trading for Ether (ETH) and Bitcoin (BTC).

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