Key Takeaways
- • BBVA Switzerland has migrated its digital assets operations to Metaco's Harmonize custody and orchestration platform, enhancing private key custody and security provisions for institutional clients.
- • Harmonize is integrated with Avaloq's crypto assets platform and core banking system, deployed via a software-as-a-service model to improve speed, efficiency, and governance.
- • BBVA Switzerland, which became the first Tier 1 Eurozone bank to offer cryptocurrency custody and trading services in 2021, continues expanding its blockchain capabilities with this infrastructure upgrade.
- • The partnership leverages Metaco and Avaloq's combined technology to deliver secure, compliant digital asset servicing aligned with institutional regulatory requirements.
Summary
BBVA Switzerland has completed a migration of its digital assets operations onto Metaco's Harmonize platform, a custody and orchestration solution designed for institutional-grade digital asset management. The move strengthens the bank's infrastructure for private key custody while enhancing security policies and operational compliance for its institutional client base.
Harmonize is fully integrated with Avaloq's crypto assets platform and core banking system, with both companies deploying BBVA's digital asset services through a software-as-a-service delivery model. This architecture is intended to accelerate service deployment, improve operational efficiency, and strengthen governance frameworks as BBVA expands its digital asset capabilities. According to BBVA Switzerland CEO Alfonzo Gómez, the integration allows the bank to "stay ahead of the market, offering the most secure and compliant infrastructure."
BBVA's move reflects its established position in European crypto banking. The Spanish lender became the first Tier 1 bank in the Eurozone to offer cryptocurrency custody and trading services in 2021, and has maintained ongoing investment in blockchain services and client education. Metaco founder and CEO Adrien Treccani noted the partnership builds on their "longstanding history," indicating this represents an evolution of an existing relationship rather than a new engagement. The Harmonize deployment signals institutional banking's continued focus on building regulated, custody-grade infrastructure for digital assets as regulatory frameworks mature across European markets.
Harmonize is fully integrated with Avaloq's crypto assets platform and core banking system, with both companies deploying BBVA's digital asset services through a software-as-a-service delivery model. This architecture is intended to accelerate service deployment, improve operational efficiency, and strengthen governance frameworks as BBVA expands its digital asset capabilities. According to BBVA Switzerland CEO Alfonzo Gómez, the integration allows the bank to "stay ahead of the market, offering the most secure and compliant infrastructure."
BBVA's move reflects its established position in European crypto banking. The Spanish lender became the first Tier 1 bank in the Eurozone to offer cryptocurrency custody and trading services in 2021, and has maintained ongoing investment in blockchain services and client education. Metaco founder and CEO Adrien Treccani noted the partnership builds on their "longstanding history," indicating this represents an evolution of an existing relationship rather than a new engagement. The Harmonize deployment signals institutional banking's continued focus on building regulated, custody-grade infrastructure for digital assets as regulatory frameworks mature across European markets.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.