The aim of the partnership is to help the financial industry with the opportunities and challenges of blockchain technology by offering solutions in the field of distributed ledger, cryptocurrencies and digital assets. With average daily trading volumes constantly increasing, cryptocurrencies and digital assets are beginning to rival some of the world’s most liquid assets as more investors diversify into these new asset classes, according to the official press release.
Established in 2014, Metaco focuses on helping banks and financial institutions, including national banks, capitalise on the latest blockchain technologies and systems. It has developed specialist, high-grade cryptographic solutions that can be fully integrated into a bank’s core processes. The company, which is already offering its solutions on the Avaloq Software Exchange, is also a provider of secure custody solutions for crypto assets.
Avaloq has acquired the stake in Metaco to enhance its own expertise and solutions with regards to blockchain technology. The financial terms of the deal are not being disclosed.
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