The first wave of personal banks is looking for exposure to DeFi and staking, but with an easy user interface.
A Switzerland-based cryptocurrency custody business is broadening its offering so that clients can get exposure to more mystical areas of public blockchains, such as decentralized financing (DeFi) and proof-of-stake (PoS) mining.
Announced Tuesday, METACO Harmonize combines the company’s institution-grade vault solution with trading, possession circulation, and tokenization tech, permitting peer-to-peer trading and access to the DeFi market– a set of intelligent agreements providing bank-like services on the internet.
METACO lies in the middle of Switzerland’s growing digital property motion. Its clients include several large banks such as Standard Chartered Bank, BBVA, and Gazprom Bank’s Swiss department.
Adrien Treccani, CEO and Founder of METACO, said the first wave of need for direct exposure to DeFi, staking, and so on is originating from Swiss private banks that serve high-net-worth consumers rather than large banks serving institutional customers.
” DeFi is not about technical capability, but user experience,” stated Treccani in an interview, adding:
” It’s about simplifying these complex smart-contract interactions into something a bank (and ultimately the end-client of the bank) can use daily– produce yields, or obtain or provide– but without needing to comprehend the inner information of the multiple smart-contract technique calls that are included.”
METACO hiring push
In addition to its product launch, METACO has also announced two senior hires. Andre Israel, formerly a banking professional at Accenture, signs up as a chief running officer; previous Standard Chartered Bank officer Craig Perrin is now vice president of sales.
Just recently, METACO made a joint announcement with IBM, foretelling the U.S. software giant’s aspirations beyond enterprise blockchain, taking a look at cryptocurrency through the custody infrastructure lens. Treccani explained that IBM’s aspirations consist of the entire gamut of decentralized public protocols in the future.
” IBM has great ambitions with public journals and not simply permission journals, as a facilities provider,” Treccani said. “In broad sense, custody, staking, DeFi are all of direct interest to IBM. Even though we presented these joint statements as a method to promote their fantastic hardware in the context of digital possession management, we have joint ambitions which go beyond hardware.”