Safe custody is crucial for investors to embrace crypto.
THE Union Bank of the Philippines (UnionBank), one of the largest in the country, will implement a Swiss custody solution Metaco, a crypto infrastructure company. The operation includes the use of IBM’s Cloud Hyper Protect Crypto Services. This service allows banks to control security keys using high security hardware.
UnionBank has over $15 billion under management. And it will use the Metaco Harmonize solution to manage its digital asset operations. According to the solution provider, it is possible to manage end-to-end use cases. And in transactions such as custody, trading and smart contract management.
Metaco was born in 2014 and focuses on digital assets. Among its shareholders are banks such as Standard Chartered. In addition, its team includes professionals who came from the traditional financial system, such as Santander and JP Morgan.
Other projects include, for example, Tezos, the AAVE token. By providing security solutions, it is in a crucial area for institutional investors, for example, to enter the crypto market.
Other crypto custody providers include, for example, Spanish ProSegur. The company even chose Brazil as one of the first countries to have a space bunker for the sector.