Financial conglomerate Citigroup has chosen infrastructure company Metaco as a partner to launch a pilot project of a platform for storing and managing digital assets.

As part of the collaboration, Citigroup is integrating a matching Harmonize solution from the Swiss firm.

“We are developing and developing new capabilities to support increasingly relevant digital asset classes for our clients,” said Okan Beijing, head of Citi Securities Services.

According to the press release, the new partnership will allow the bank to expand its operations into digital assets using existing technology, operational and service models.

“Citi’s extensive global network, combined with the performance of its Harmonized platform, will enable it to expand into new markets safely and efficiently,” the statement said.

The bank said the technology capabilities developed in collaboration with Metaco will be “an integral part of Citi’s digital asset group strategy.”

The holding has more than 200 million client accounts and does business in more than 160 countries and jurisdictions. Citi Securities Services owns and manages over $27 trillion in assets.

Recall that in November 2021, Citigroup announced the launch of a division focused on cryptocurrencies to serve institutional clients.

Prior to that, a similar group was formed within the asset manager Citi Global Wealth Investments.

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