The technology giant IBM will provide Metaco, the cryptocurrency custodian, with software to protect against data leaks and cyber threats. This is reported by Cointelegraph.
It concerns the ‘Cloud Hyper Protect’ service and the ‘Keep Your Own Key’ package. They can be deployed locally, in the cloud, or in a hybrid environment.
‘The integration will raise the level of security and client trust’, said Adrien Treccani, founder and chief executive of Metaco.
The partners aim to attract banks and regulated financial-services providers. Metaco’s digital-asset management system can be used, among other things, for custody, tokenisation and transaction management.
“Custodial fiduciary obligations require transferring the asset-holding function to regulated custodians. Through integration into clients’ infrastructure, our solution enables managing and distributing risks across multiple custodians within a single governance system,” explained Simus Donahue, Metaco’s vice president.
Metaco’s services are used by Standard Chartered, BBVA and Swiss subsidiary of Gazprombank.
On March 25, CoinDesk reported on the collaboration between IBM and Deutsche Bank. The technology giant will help build Deutsche Bank’s platform for custody and trading of cryptocurrencies.
Earlier in February, it emerged that IBM almost entirely downsized its blockchain division.
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