METACO and Cobalt to provide digital asset trading to institutions

By Megha Bhattacharya

Security-critical infrastructure provider METACO has partnered with FinTech Cobalt in a bid to provide Software as a Service (SaaS) solution for digital asset settlement. The companies aim to combine their capabilities to offer a fully integrated end to end SaaS solution for the storage, limit allocation and intraday settlement of digital assets, with institutional-grade security standards.

IBS Intelligence reported, this month, that foreign-exchange and digital asset infrastructure provider Cobalt entered a partnership with Baton Systems, the provider of post-trade solutions for capital markets, to provide an end-to-end FX settlement solution.

Seamus Donoghue, VP Sales & Business Development at METACO commented, “There remain many frictions for banks and other large trading institutions to enter and scale in crypto markets and we are very excited to partner with Cobalt and enable our clients to leverage their market-leading post-trade solutions in fiat and crypto. SILO delivers a SaaS custody solution that in combination with Cobal`s post-trade settlement solutions will deliver the leading institutional infrastructure for custody and trading to our banking and exchange clients.”

METACO’s operating system for digital assets – SILO, enables large financial institutions to securely integrate, store, and manage cryptocurrencies, tokens, and distributed ledgers. Recently, METACO announced a strategic partnership with cryptographic key management and protection solutions provider Unbound Tech in a bid to offer a digital asset management solution. The collaboration is expected to incorporate an expansion in the company’s SILO, to offer firms 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.

Adrian Patten, Chairman at Cobalt said, “METACO is a global leader in digital asset custody solutions for institutions, and our partnership represents a commitment to market-leading innovation and institutional-grade security in the digital assets market. Financial institutions are rapidly accelerating their roadmaps for the adoption of digital assets, and require flexible, trusted and scalable infrastructure to fit their needs — precisely what we deliver with this partnership.”