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Why did Liechtenstein's VP Bank choose Metaco's Harmonize platform for digital asset custody?

Company-reported Published 1 min read

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According to Ripple’s press release, Liechtenstein-based VP Bank selected Metaco as its digital asset custody and tokenization technology partner, using the Harmonize platform as a managed service after a five-month modernization project, to expand tokenized asset services while remaining compliant with the TVTG.

The full answer

What did Ripple state?

On April 4, 2023, Ripple stated the following. According to Ripple’s press release, Liechtenstein-based VP Bank selected Metaco as its digital asset custody and tokenization technology partner, using the Harmonize platform as a managed service after a five-month modernization project, to expand tokenized asset services while remaining compliant with the TVTG. [1]

The source’s own words: “Following a diligent selection process, VP Bank has selected Metaco as its preferred digital asset custody and orchestration technology partner” [1]

Where does this fit on the site?

For the wider picture, see Why is Absa partnering with Ripple for digital asset custody in South Africa? and How do in-kind creations and Anchorage Digital custody change the Grayscale XRP Trust ETF?. Two related questions are What digital-asset features does Ripple Treasury have? and Do I have to report XRP held on a foreign platform or in self-custody on foreign-property or foreign-account forms?

What we know

  • According to Ripple’s press release, Liechtenstein-based VP Bank selected Metaco as its digital asset custody and tokenization technology partner, using the Harmonize platform as a managed service after a five-month modernization project, to expand tokenized asset services while remaining compliant with the TVTG (Ripple, April 4, 2023).

In plain English

According to Ripple’s press release, Liechtenstein-based VP Bank selected Metaco as its digital asset custody and tokenization technology partner, using the Harmonize platform as a managed service after a five-month modernization project, to expand tokenized asset services while remaining compliant with the TVTG.

Sources

  1. Ripple press release — Ripple, 2023-04-04 Primary

Related breadcrumbs

Before thisWhy is Absa partnering with Ripple for digital asset custody in South Africa? Next on this TrailHow do in-kind creations and Anchorage Digital custody change the Grayscale XRP Trust ETF? Go deeperWhat digital-asset features does Ripple Treasury have? The other sideDo I have to report XRP held on a foreign platform or in self-custody on foreign-property or foreign-account forms?

Update log

  • — Published.

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