Ripple Labs’ wholly-owned subsidiary Metaco recently joined hands with IBM to introduce Hyper Protect Offline Signing Orchestrator (OSO), a new technology that will facilitate the deployment of cold storage for digital assets.
The Metaco and IBM Solution Deviates from the Norm
The launch of the advanced technology which was announced by IBM is targeted at addressing the requirements of top-tier banks and financial institutions. Markedly, the tool is a clear deviation from the conventional manual process of executing cold storage transactions. Moreso, it offers protection for high-value transactions by creating extra layers of security.
Other features of the IBM OSO are disconnected network operations, time-based security, and electronic transaction approval by multiple stakeholders. Per IBM’s announcement, “OSO is designed to address limitations of current cold storage offerings for digital assets, including the need for people to perform manual procedures for the execution of a cold storage transaction.”
Apart from all of the aforementioned features, Hyper Protect OSO breaks the communication barrier between applications that have been designed to not interact directly due to certain security concerns. Precisely, it provides a policy engine which acts as a bridge between these different applications, facilitating secure and efficient digital asset transactions.
More Proactive Partnerships
Metaco and IBM worked together with other entities to ensure that the newly launched tool is in alignment with client requirements. Metaco Harmonize provides a highly robust and secured orchestration platform for digital asset applications. At the same time, it intends to leverage this novel solution for its operations.
Adrien Treccani, founder and CEO at Metaco stated that it is the company’s responsibility to deliver cutting-edge digital asset security to Metaco clients, especially due to its position as a trusted provider of institutional grade custody infrastructure. Furthermore, Treccani acknowledged IBM’s reliability over the years as a partner.
The strategic partnership with IBM is one of Metaco’s numerous alliances to push advanced technologies and cryptocurrency. Standard Chartered’s Zodia Custody joined Metaco recently to roll out a new crypto custody solution. The offering gives institutions easy access to crypto storage and settlement, with complete security.
Swiss private bank BBVA Switzerland also moved to fortify its digital asset offerings by signing partnership a partnership deal with Metaco last month.
