IHS Markit has partnered with METACO, a provider of security software, to provide a single multi-asset platform for financial institutions to manage digital assets alongside traditional assets.
As part of the mandate, IHS Markit’s Securities Processing solution will be integrated with METACO Harmonize, a secure digital asset solution that secures, automates and standardises trades, settlements and corporate actions lifecycles.
The IHS Markit Securities Processing solution enables clients to replace multiple applications and discrete processes with a cloud platform and integrated post-trade framework, while METACO Harmonize enables institutions to securely manage any end-to-end digital asset use cases — from cryptocurrency custody and trading to tokenisation, smart contract management and decentralised finance.
The two solutions will work together with assistance from IHS Markit’s Integrated Message Bridge (IMB).
As the institutional adoption of digital assets accelerates, banks and financial institutions are hindered by the lack of available institutional-grade infrastructure to fit their needs, says IHS Markit.
As the digital asset industry matures, most organisations require optionality to reduce the risk of third-party dependency, seeking to work with multiple vaults, sub-custodians, and liquidity providers, it adds.
METACO Harmonize is designed to transform the complexity of working with multiple self-custody providers, custodians, and other solutions into an end-to-end secure stack with full distribution of all processes to mitigate points of failure.
Ankush Zutshi, vice president, corporate actions and securities processing, IHS Markit, says: “We are excited to partner with METACO to provide a unified, integrated solution for the secure orchestration of digital asset workflows and the safekeeping of digital assets along with traditional.”
Seamus Donoghue, vice president of strategic alliances at METACO, comments: “METACO Harmonize, our digital asset orchestration platform, is a unique offering that ensures end-to-end security with no single point of failure across all digital asset processes.”
He adds: “Our partnership with IHS Markit integrates their market-leading post-trade securities processing capabilities to provide firms with the highest level of security while delivering the flexibility and agility they need to successfully operate at scale and with agility in the rapidly growing digital asset industry.”
Image: Dmitry 