METACO, the market-leading provider of digital asset custody orchestration technology to complex, global financial institutions, has been selected by LevelField Financial, the leading U.S. financial services organization integrating digital assets with traditional banking services in one trusted platform. LevelField is putting its institutional digital asset management operations on IBM Cloud to take advantage of IBM's digital asset infrastructure's confidential computing capabilities.
Harmonize, which is supported by IBM Cloud Hyper Protect Services1, will be deployed by LevelField. This arrangement will allow LevelField to scale to millions of wallets while preserving risk management control over private keys. When leveraging METACO's Harmonize platform, IBM's Digital Asset Infrastructure is meant to assist custodians in achieving better results, including increased scalability, security, and compliance.
IBM Cloud Hyper Protect Crypto Services is designed to allow METACO Vaults to store encrypted keys in a database externally while maintaining the security of IBM's FIPS 140-2 Level 4 accredited hardware security modules (HSM). Custodians may scale to billions of wallets using IBM's master encryption key technology, which allows them to store keys externally. IBM Cloud Hyper Protect Virtual Servers hardware-based, Common Criteria-certified isolation protects critical processing on METACO Harmonize. By trying to make policies on the platform tamper-proof, IBM Cloud Hyper Protect Secure Build Server reduces the danger of malicious code infiltration during Harmonize installations and addresses unauthorized rule manipulation. Regardless of how Harmonize is used, custodians retain physical ownership of the assets' root of trust and the policies that govern asset management using IBM HSM Smartcards.
"We're pleased to support LevelField in realizing its vision of uniting digital assets with traditional finance to create the most trusted banking platform of the future. Harmonize provides bank-grade security and compliance for the custody and management of digital assets, as well as the agility for innovative firms like LevelField to go-to-market and scale quickly. With a flexible governance policy framework that can be applied to any type of digital asset transaction, a no-single-point-of-failure model, and the optionality to expand and offer any type of digital asset services, Harmonize provides a highly secure and flexible foundation for LevelField to manage its digital asset operations, both today and well into the future,"
Seamus Donoghue, VP of Strategic Alliances at METACO.
METACO has large implementations with Tier 1 banks, exchanges, and other financial institutions, making it the dominant technology provider in the digital asset ecosystem. Harmonize, the company's platform, provides the industry's most secure, compliant, and adaptable custody solution, as well as end-to-end, secure orchestration of workflows and governance procedures across the whole digital asset stack, with no single point of compromise.