METACO has announced it will leverage IBM’s confidential computing capabilities for their digital asset orchestration system.
The provider of security-critical infrastructure that helps large banks manage digital assets will deploy the IBM Cloud and IBM Cloud Hyper Protect Services.
METACO is specialized in the integration of cryptocurrencies, tokens, and DLT use-cases into the core infrastructure of large financial institutions.
The firm offers digital asset custody, transaction management, trading, and tokenization for banks and exchanges.
METACO uses ‘Keep Your Own Key’ (KYOK) encryption and confidential computing capabilities from IBM so its clients can retain sole access to their crypto keys, meaning by engineering design, IBM does not have access to clients’ keys.
This mitigates the risk of malicious actors accessing data or assets. The partnership with IBM will also allow clients to choose where to run their solution – whether in the cloud, on-premises, or in a hybrid cloud environment. The orchestration system for the digital asset custody is running in IBM Cloud Hyper Protect Virtual Server enclaves.
Adrien Treccani, CEO and Founder of METACO, commented: “IBM is one of the financial industry’s longest-standing and most trusted technology providers, and we are proud to join forces to strengthen the offering of our custody solution and digital asset orchestration system for institutions. At METACO, we are constantly striving to innovate, expand and improve upon our service offerings. This integration will allow us to deliver greater levels of security and trust to our clients as they innovate in the digital asset space.”
Hillery Hunter, IBM Fellow, VP and CTO, IBM Cloud, said: “As the world’s leading financial institutions adopt hybrid cloud, it is critical that they keep in mind security and privacy assurance. As companies such as METACO continue to help the world’s top banks and exchanges manage their digital assets, IBM’s confidential computing capabilities help its clients ensure their data and processes are managed securely, bringing trust into the ecosystem and providing privacy assurance”.
A few weeks ago, METACO partnered with Cobalt for a digital asset settlement solution. The firms joined forces to provide an SaaS solution that combines its operating system for digital assets, SILO, with Cobalt’s interoperable FX and digital assets platform. The SaaS solution provides storage, limit allocation, and intraday settlement of digital assets.
METACO has recently integrated DeFi protocol Aave. The decentralized, open-source, and non-custodial liquidity protocol on Ethereum has a market size of $2 billion+.