Partnership Overview
In an exciting alliance, Metaco, known for its innovative approach to digital asset security infrastructure, has joined forces with tech giant IBM. This collaboration is set to revolutionize enterprise-grade digital asset custody solutions by utilizing the robust IBM Cloud and its Hyper Protect Services.
Empowering Banks and Financial Services
The primary aim of this partnership is to provide impeccable custodial services tailored for banks and other financial institutions navigating the complex world of digital assets. With an array of use cases including custody, tokenization, and transaction management, this collaboration intends to tackle the needs of heavily regulated financial services firms.
Security You Can Count On
At the heart of this partnership lies a commitment to security. The digital asset orchestration system will leverage IBM’s confidential computing and unique “Keep Your Own Key” (KYOK) encryption, giving clients exclusive control over their private keys. This means no more sleepless nights worrying about hackers or security breaches!
Flexibility at Its Finest
Clients will enjoy unprecedented flexibility, as they can choose to run the asset orchestration system on-site, utilize the cloud, or even employ a hybrid cloud approach. This versatility allows financial firms to protect client data while adapting to their operational preferences without missing a beat.
Addressing Regulatory Concerns
According to Seamus Donoghue, the vice president of strategic alliances at Metaco, the digital asset orchestration system will assist banks in adhering to regulatory requirements. “The fiduciary obligations of asset managers require them to externalize custody to regulated custodians,” he explains. With a multi-custodian solution and a straightforward integration into core systems, management and diversification of risk across custodians become a breeze.
Making Transactions Seamless
Donoghue notes that clients will benefit from swift and secure transfers. By leveraging trusted address books and automated workflows, firms can execute transactions instantaneously while ensuring security is never compromised. In an ever-changing marketplace, this capability allows organizations to protect their assets while staying agile.
Looking Back to Move Forward
Reflecting on the evolution of the digital asset landscape, Donoghue highlighted how regulatory clarity since 2020 has paved the way for greater institutional participation in the cryptocurrency space. With banks stepping into this territory and focusing on custody solutions, the future looks promising for regulated digital asset environments.
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