According to a recent press release, Seems Swiss bank BBVA Switzerland is embracing crypto in a big way by sealing a deal with leading blockchain provider Metaco to supercharge its digital asset offerings for institutional clients.
Under the new alliance, BBVA will offer fund managers and corporations access to Metaco’s Harmonize platform, which is a gateway to not only transact seamlessly across Bitcoin, Ethereum and other major crypto networks, but also to tap into more exotic blockchain opportunities.
Specifically, Metaco will provide the rails for BBVA’s clients to custody digital assets, trade tokens, and even tokenize real-world assets like stocks and bonds.
The timing of this collaboration couldn’t be better, as Ripple’s XRP token surged 2.3% on the news to $0.67 according to Tradingview. Marking a vote of confidence in blockchain finance from traditional finance banks, the rally brings XRP’s total market value to $34.6 billion.
Also note that Ripple owns a controlling share of Metaco after snapping up the crypto custodian earlier this year in a landmark acquisition.
This collaboration is just the latest when it comes to banks leaning on crypto partners to stay ahead of the curve. In November, HSBC announced plans to launch digital asset custody powered by Metaco too.
As banks increasingly lean to crypto, expect prices and adoption to explode even further.