BBVA Partners With Ripple’s Metaco For Crypto Custody Service

Bbva Partners With Ripple's Metaco For Crypto Custody Service

A recent news release claims that BBVA Switzerland, a Swiss bank, is clearly embracing cryptocurrency as seen by the agreement it signed with Metaco, a top blockchain provider, to enhance its capabilities for institutional clients in digital assets.

Through the new partnership, BBVA will provide fund managers and businesses with access to Metaco’s Harmonize platform, which serves as a portal to additional unique blockchain prospects in addition to facilitating smooth transactions across key cryptocurrency networks like Ethereum, Bitcoin, and others.

In particular, Metaco will supply the platforms that allow BBVA’s clients to trade tokens, hold digital assets, and even tokenize physical assets like bonds and equities.

The timing of this partnership couldn’t be more ideal, as Tradingview reports that Ripple’s XRP coin increased 2.3% to $0.67 following the announcement. With this rise, established financial banks have shown their support for blockchain financing, bringing XRP’s market value to $34.6 billion.

It should be noted that Ripple, having acquired the cryptocurrency custodian earlier this year in a historic deal, now holds a majority stake in Metaco.

When it comes to banks relying on cryptocurrency partners to stay ahead of the curve, this partnership is just the most recent. HSBC also revealed plans to introduce Metaco-powered digital asset custody in November.

Cryptocurrency pricing and adoption are expected to soar much higher as banks begin to favor it more and more.

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