BCB Group has shifted its custody operations to Metaco, a Swiss crypto custody firm owned by Ripple, consolidating governance of its digital asset custody operations. The move helps BCB Group improve governance and security of its cryptocurrency operations. Metaco's platform offers a centralized solution for the custody of digital assets.
The collaboration with Ripple, Metaco, and IBM Cloud marks a significant step towards empowering new global financial ecosystems. BCB's CEO highlighted the importance of delivering top-tier services seamlessly, securely, and affordably to the digital asset industry through this partnership.
Ripple's acquisition of Metaco for $250 million in 2021 underscores the growing importance of custody services in the cryptocurrency industry. However, there have been recent changes in the leadership of Metaco, with the departure of its CEO and chief product officer reported earlier this year.
BCB Group provides crypto payments and trading services to major institutions like Bitstamp, Crypto.com, Galaxy Digital, Gemini, and Kraken. This move to Metaco's platform signifies a strategic shift for BCB towards enhancing the efficiency and security of its digital asset operations.
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