Digital asset security infrastructure outfit Metaco will use tech conglomerate IBM Cloud to provide robust security-critical technology to the institutional investors entering the digital asset space. The partnership will use the platform for enterprise-grade digital asset custody solutions. According to the press statement issued on Thursday, Metaco will leverage IBM Cloud Hyper Protect Services and IBM Cloud for its digital asset orchestration system. Metaco and IBM Partnership The partnership between the two aims to provide adequate digital asset custodial services for banks and other highly regulated financial services firms. Firms can now participate in the digital asset ecosystem across use cases like custody, tokenization, and transaction management among others. According to the announcement, Metaco will reportedly utilize IBM’s confidential computing and “Keep Your Own Key”, ( KYOK), encryption to ensure that access to the private keys remains in the hands of the firm’s clients. The press statement also revealed that “clients will be able to run the asset orchestration system on-site or on the cloud or via a hybrid cloud environment.” Seamus Donaghue, Vice President of strategic alliances at Metaco talked about the ways in which the digital asset orchestration system will help financial services and banks with regulatory requirements, stating: “The fiduciary obligations of asset managers require them to externalize custody to regulated custodians. Our multi-custodian solution enables them – with a single integration into their core infrastructure – to seamlessly manage and diversify risk across multiple custodians all under a holistic risk and control framework.” According to Donaghue, “The orchestration can be parameterized to leverage trusted address books and the secure workflow automation to facilitate instant but secure movements as required. In this manner, a firm can be confident that its assets are always safe but can respond to rapidly moving markets.” Collaboration Will Deliver Greater Levels of Security: Metaco Addressing the collaboration with IBM, Metaco CEO Adrien Treccani remarked that the partnership will enable the company to deliver greater levels of security for its clients. As the partnership will design products and services in the digital asset space. A few months back in December 2020, Donaghue mentioned that regulatory clarity for digital currencies was allowing greater institutional involvement in the crypto space.
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