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UnionBank of the Philippines Picks IBM and Metaco for Crypto Custody

UnionBank of the Philippines Picks IBM and Metaco for Crypto Custody on January 20, 2022 at 6:00 am.

UnionBank of the Philippines Picks IBM and Metaco for Crypto Custody

“They can leverage the existing stack, existing run capabilities to manage Metaco vaults directly from existing infrastructure. And we have a number of other similar deals in the pipeline, leveraging our combined capabilities.”

IBM has traditionally been a stalwart of enterprise blockchain: private ledgers running inside the firewalls of companies involved in supply chains and the like.

But Big Blue has now begun applying its key management know-how to public crypto.

This includes IBM Cloud Hyper Protect Crypto Services built on IBM’s hardware security modules, according to a press release.

UnionBank, which has over $15 billion in assets under management, has been a tireless explorer of cryptocurrency initiatives including doing blockchain payments with Visa, remittances in partnership with Ethereum developer ConsenSys and even launching a stablecoin.

“We have the passion for meaningful and sustainable reinvention.

Leveraging IBM’s key management capabilities, Metaco’s Seamus Donoghue said there are a number of similar deals in the pipeline.Read MoreCoinDesk

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