METACO and IBM Selected By Levelfield to Launch Digital Asset Management Capabilities

Announcements, Blockchain, Innovation, News | May 27, 2022 By:

METACO, provider of digital asset custody orchestration technology to global financial institutions, and tech giant IBM, have been selected by Levelfield, the premier U.S. financial services firm and banking platform, to launch digital asset custody and management services.

According to a press release, LevelField is in the process of acquiring a federally chartered bank in the United States. LevelField will reportedly use METACO’s digital asset custody and orchestration platform, Harmonize, to launch its digital asset offering. Harmonize was built in partnership with Tier 1 banks and offers the highest standards of security and compliance for LevelField to operate in the digital assets sector. This foundational infrastructure provides LevelField with the option to further expand its digital asset offering in the future, in a highly-scalable and efficient manner.

LevelField will deploy Harmonize, which is supported by IBM Cloud Hyper Protect Crypto Services, which is designed to enable METACO Vaults to store encrypted keys externally in a database while affording the protections of IBM’s FIPS 140-2 Level 4 rated hardware security modules (HSM). This setup will allow LevelField to scale to millions of wallets, while maintaining control over private keys for risk management. IBM’s Digital Asset Infrastructure is designed to help custodians achieve greater results when using METACO’s Harmonize platform, including enhanced scalability, security, and compliance.

“We’re pleased to support LevelField in realizing its vision of uniting digital assets with traditional finance to create the most trusted banking platform of the future,” said Seamus Donoghue, VP of Strategic Alliances at METACO. “Harmonize provides bank-grade security and compliance for the custody and management of digital assets, as well as the agility for innovative firms like LevelField to go-to-market and scale quickly. With 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, Harmonize provides a highly secure and flexible foundation for LevelField to manage its digital asset operations, both today and well into the future.”

“LevelField is comprised of career bankers who deeply understand the importance of compliance and security,” said Michael Clayton, CTO, LevelField. “We searched for the platform that would enable us to meet our rigorous standards for security and compliance, while also giving us the flexibility to grow our digital asset business in any direction. METACO’s Harmonize orchestration platform, supported by IBM Cloud Hyper Protect Services, is the ideal solution and something which may become the gold standard in the industry. This infrastructure enables us to demonstrate our compliance and the highest levels of security no matter what area of digital assets we expand into.”