SG-FORGE Explores Digital Asset Custody Operations Through A Partnership With METACO
- Swiss crypto custody service provider, METACO, adds a subsidiary of tier banking giant, Societe-Generale to its client list.
SG-FORGE, a full subsidiary of top banking giant, Societe-Generale (SG), has agreed on a new partnership with METACO. The partnership will enable forge to expand its services into the digital asset space.
METACO is a leading crypto asset service provider in the management technology and infrastructure niche. Apart from being a top-level bank, SG is also a leader in digital ledger technology. One of the group’s strategies for maintaining its leadership position in the financial services sector is being a pioneer of innovations.
In the last three years, SG and SG-FORGE have been involved in the deployment of native security token issuances on multiple blockchains. The 100 million digital Euro bond issuance of 2021 by the European investment bank is one of SG-force’s most notable achievements in recent times.
SG has extended its financial market products to its top clients using native security tokens on the Tezos and Ethereum blockchains. This service comes with complete bank-standard regulatory compliance and safety.
Further Highlights of METACO and FORGE Deal
Through this collaboration, SG-FORGE intends to leverage METACO’s platform to integrate its security tokens into traditional finance. METACO’s platform is a bank-level crypto custody service. METACO will also incorporate Harmonize’s orchestration platform to scale this offering.
These developments are happening in the broader context of a rapid market digitalization through blockchain technology deployment. The upcoming EU pilot regime will use some of the features from these developments and blockchain technology deployments.
Thus, this regime can process security tokens under market conditions without violating appropriate EU policies. Processing complete digital issuances are possible through security tokens.
Also, the financial markets can use the innovative nature of these security tokens to enhance the speed, transparency, and efficiency of transactions in the market. Hence, transactions become safer and more hack-proof. Thus, security tokens and financial tools (in the traditional world) can serve a similar purpose.
In his remarks, SG-FORGE chief executive, Jean-Marc Stenger said, SG-FORGE will be leveraging METACO’s safety systems to have a basis through which they can develop their digital asset market operations.
Thus, SG-FORGE can expand its services from the traditional finance world into the crypto asset space in an industrial capacity using top-notch technology in a regulated environment.
METACO co-founder, Adrien Treccani, added that METACO is delighted to partner with SG-FORGE as SG has been a reputable innovator in the traditional finance sector. It has been a good couple of weeks for METACO. Last week, it reached an agreement with Citibank (a US multinational investment bank). Under its partnership with Citibank, METACO will develop and trial a platform for the bank’s customers to store and settle crypto assets.