Crypto asset security infrastructure entity Metaco has reportedly forged an alliance with IBM for harnessing the features of its cloud platform for enterprise-grade virtual asset custody tools.
The alliance reportedly has a main target of offering adequate virtual assets custodial features for banks and different financial services companies with enhanced regulations, planning to take part in the crypto asset network throughout use cases, nominally tokenization, custody, and transaction management among others.
Metaco will reportedly be harnessing the features of IBM-built confidential computing and “Keep Your Own Key” (KYOK) encryption, to maintain exclusive access for its clients to their private keys.
The customers will reportedly be enabled to operate the asset orchestration system on-site or on the cloud or via a hybrid cloud environment.
As for Metaco, robust security-critical protocols such as KYOK are needed to offer safeguarding for its customers’ data while avoiding the threats coming from hackers.
Sharing his remarks regarding the IBM partnership, Head of Metaco, Adrien Treccani reportedly believed that the collaboration will allow the firm to achieve greater levels of security for their customers, during the process of designing solutions and services across the crypto asset sphere.
“The fiduciary obligations of asset managers require them to externalise 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.” Seamus Donoghue, vice president of strategic alliances at Metaco, additionally shared.