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Union Financial institution of the Philippines selects Metaco and IBM to facilitate digital asset custody operati​​ons

Union Financial institution of the Philippines selects Metaco and IBM to facilitate digital asset custody operati​​ons

“With the hot launch of our APAC headquarters in Singapore, we are in a position to make certain that that that we proceed to give easiest-in-class products and services to UnionBank and other purchasers in the spot,” says Patrick Enjalbal, vp of customer success and managing director of the Asia-Pacific spot at Metaco.

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Union Bank of the Philippines selects Metaco and IBM to facilitate digital asset custody operati​​ons

On Thursday, Metaco, an enterprise cryptocurrency platform for securing, shopping and selling, issuing and managing digital property, announced the addition of UnionBank as its most modern client. Founded in 1982, UnionBank is even handed one of many greatest banks in the Philippines, with a collective $15 billion in property below administration. UnionBank will seemingly be even be deploying its digital asset administration products and services on the IBM Cloud, which would possibly maybe maybe well be totally constructed-in with Metaco’s alternatives.

Through the combination, UnionBank will seemingly be ready to toughen the insurability of property with FIPS 140-2 Level 4 licensed controls for managing and migrating keys. FIPS 140-2 is the glorious stage of U.S. authorities computer security traditional. As well to detecting and responding to all unauthorized attempts at physical get entry to, the protocol also protects against environmental factors that lead to recordsdata loss or leak.

At the an identical time, Metaco’s alternatives enable exhaust conditions for financial institutions, similar to shopping and selling, tokenization, wise contract administration and participation in decentralized finance. Henry Aguda, UnionBank’s senior govt vp, chief expertise & operations officer and chief transformation officer, issued the following commentary referring to the improvement:

Now we have a fondness for meaningful and sustainable reinvention. We worth our strategic partners, love METACO, and collaborate with them in an alliance that’s meaningful in pursuit of a shared vision. And for UnionBank, that classic vision is customer-centricity pushed by emerging applied sciences and innovation.

Last yr, Metaco fashioned a partnership with IBM Cloud to deploy its digital asset administration system on the latter. Founded shut to eight years ago in Switzerland, Metaco beforehand closed a Assortment A funding for $17 million in unhurried 2020.

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