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Partnership expands digital asset operating system, SILO, to offer unprecedented flexibility in the deployment of key management technologies
Lausanne, Switzerland – October 14, 2020 – METACO, the leading provider of security-critical infrastructure enabling financial institutions to enter the digital asset ecosystem, today announced a strategic partnership with Unbound Security, the leader in cryptographic key management and protection solutions designed for an increasingly interconnected world, to offer a market-first solution in digital asset management.
This partnership will incorporate an expansion in METACO’s institutional operating system for digital assets, SILO, to offer firms unparalleled flexibility in deploying either Hardware Security Module (HSM) or virtual HSM secured with Multi-Party Computation (MPC) for key management of their digital asset management solution.
The expansion is a market-first in institutional custody infrastructure, with firms previously having to choose between deploying either HSM or MPC technology. This expansion offers firms an unprecedented degree of flexibility in choosing the best-fit custody solution for their use-case, and enables clients to tailor security deployments to best fit their needs, as well as configure deployments according to the life-cycle of their use-case.
Adrien Treccani, CEO and Founder of METACO commented, “Currently, there is a debate in the market whether MPC or HSM based key management solutions offer greater adaptability for the management of digital assets. We are proud to partner with Unbound Security to solve this dilemma and offer firms a pre-eminent solution incorporating both technologies. At METACO, we are constantly striving to innovate, expand and improve upon our service offerings, and this addition offers next-level flexibility for firms entering the digital asset ecosystem.”
Launched in 2018, METACO’s institutional operating system for digital assets, SILO, enables large financial institutions to securely integrate cryptocurrencies, tokens, and distributed ledger use cases into their core infrastructure. Its unique framework for digital asset custody, transaction management, trading, and tokenization has made it the leading choice for banks and exchanges. METACO has significant Tier 1 and Tier 2 bank implementations, including FINMA, BaFin, Banco de España, ECB, and MAS regulated banks and exchanges. METACO recently completed an oversubscribed $17M Series A funding round, led by central bank infrastructure provider Giesecke+Devrient, as well as Standard Chartered Bank, Swisscom, SICPA, Avaloq, Swiss Post, Zürcher Kantonalbank and Investiere.
“Our partnership with METACO is forged on a combined steadfast commitment to revolutionizing digital asset management and security through our use of multi-party computation.” Stated, Rocco Donnino, Vice President of Strategic Alliances at Unbound Security “Financial institutions require the ability to leverage existing infrastructure while adopting solutions that are proven, trusted and built for growth and impact – that’s what we deliver with this partnership.”