Metaco, a company owned by Ripple in recent tweet proudly announced its major achievements. At the Global Custody Awards 2023, the company received two prestigious awards: “Best Digital Asset Custody Innovation 2023” And “Asia Digital Asset Initiative of the Year 2023”.
Recall that Ripple acquired Metaco three months ago for $250 million. The move was part of the San Francisco-based company’s efforts to break into the storage and tokenization scene.
In an interview with Global Custodian, Metaco attributed its success to strong global growth and strong technology demand. Its Harmonize digital asset vault has become the gold standard for institutional digital asset services, the firm says.
It turned out that major global custodians and sub-custodian startups have implemented Harmonize. The firm added that Metaco’s technology is at the heart of transformative offerings such as tokenization, cryptocurrency payments, settlements and wallet services.
Speaking about its achievements, Metaco emphasized that six of the world’s ten largest depositories have strategically chosen its platform for critical projects. They note that the companies made decisions after extensive reviews, including a technical proof of concept.
The company’s partners are such financial giants as Citi, BNP Paribas, Societe Generale, DekaBank, DZ BANK, VP Bank and Archax.
In addition, Metaco mentioned that its collaboration with DBS Digital Exchange has resulted in significant growth in the Asia Pacific region. In particular, over the past year, the number of institutional investors has doubled, and the holding of bitcoin (BTC) has increased by more than 100%. Similarly, his holdings in Ethereum rose by 60%.
To meet growing demand, Metaco tripled its workforce within a year, bringing in senior executives from Citi, Accenture and IBM.
Looking ahead, Metaco mentioned that it will continue to operate independently under the auspices of Ripple. It will use Ripple’s resources and network to accelerate the development and growth of its product.