Archax taps Metaco’s digital asset custody tech
Harmonize has been deployed by leading institutions including Citigroup, Societe Generale – FORGE and BBVA Switzerland, as well as Mercari, LevelField, and Covario.
Archax has partnered with METACO to deploy its digital asset custody and orchestration technology on IBM Cloud in order to leverage the confidential computing capabilities of IBM’s digital asset infrastructure.
The FCA-regulated digital asset exchange, brokerage, and custodian based in London will fully integrate METACO’s bank-grade digital asset custody, issuance, and orchestration platform, Harmonize.
Harmonize’s IBM Cloud Hyper Protect Services will allow Archax to scale to billions of wallets while maintaining control over their private keys for risk management. Custodians retain physical control of the root of trust of the assets and the policies that govern the management of the assets, through the IBM HSM Smartcards.
Harmonize, built in partnership with the largest Tier 1 custodian banks, allows clients to securely store, trade, issue and settle cryptocurrencies and digital securities. METACO is supporting key live implementations in Switzerland, Germany, United Kingdom, and Singapore, as well as the United States, France, Australia, and Hong Kong.
UK has a key role to play in bridging traditional finance and digital assets
Graham Rodford, CEO and Co-Founder of Archax, commented: “We see the digital asset market as a long-term investment opportunity, and at Archax we make investments in technology and processes to reflect that vision. We provide regulated, institutional-grade services and through working with METACO and IBM Cloud, we further establish our commitment to bring the highest levels of security and compliance to our clients and ecosystem.”
Seamus Donoghue, VP of Strategic Alliances at METACO, said: “As one of the world’s leading traditional financial centres, the UK has a key role to play in bridging traditional finance and digital assets–recently outlined by the UK Treasury. The first FCA regulated digital securities brokerage, exchange and custodian, Archax is at the vanguard of this transition, enabling seamless institutional access to the sector.
“We’re thrilled to partner with Archax, and provide a platform that offers bank-grade security and compliance for the custody, issuance and management of digital assets, as well as 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.”
Archax offers digital securities exchange, brokerage, and custody in the UK, having been the first to obtain a license from the Financial Conduct Authority (FCA) to support institutional investors to trade in a variety of digital assets, including digital securities, cryptocurrencies, and traditional securities too.