LevelField Financial has selected technology provider METACO to deploy its institutional digital asset management operations on IBM Cloud.
Financial services firm LevelField unites digital assets, securities and traditional US banking services into one platform to provide a comprehensive banking service for the digital economy.
Under the partnership, the firm will be able to leverage the confidential computing capabilities of IBM’s digital asset infrastructure, with the option to further expand its digital asset offering in the future beyond the foundational infrastructure.
Built using Tier-1 bank-grade technology, METACO’s digital asset custody and orchestration platform Harmonize allows for the secure storage, trade and settlement of digital assets, as well as the secure end-to-end orchestration of workflows and governance processes.
Harmonize is supported by IBM Cloud Hyper Protect Services, which are designed to enable METACO vaults to externally store encrypted keys in a database with the protection of IBM’s Level 4-rated hardware security modules.
This allows custodians, including LevelField, to scale to billions of wallets while maintaining control over private keys for risk management.
Commenting on the partnership Seamus Donoghue, vice president of strategic alliances at METACO, says: “We are pleased to support LevelField in realising its vision of uniting digital assets with traditional finance to create the most trusted banking platform of the future.”
He continues: “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.”
Michael Clayton, chief technology officer of LevelField, adds: “We searched for the platform that would enable us to meet our rigorous standards for security and compliance, while also giving us the flexibility to grow our digital asset business in any direction.
“METACO’s Harmonize orchestration platform is the ideal solution and something which may become the gold standard in the industry. This infrastructure enables us to demonstrate our compliance and the highest levels of security no matter what area of digital assets we expand into.”
