On Thursday, Metaco revealed Union Bank as the newest customer on its list. Metaco is an enterprise cryptocurrency platform for protecting, trading, issuing, and managing digital assets. UnionBank is one of the Philippines’ major banks, with a combined USD 15 billion in assets under administration. UnionBank will also use the IBM Cloud to implement its digital asset management services, which will be completely integrated with Metaco’s solutions.
As a result of the connection, UnionBank will be able to increase asset insurability with FIPS 140-2 Level 4 certified rules for maintaining and migrating keys. FIPS 140-2 is the highest degree of computer security standard used by the US government. The protocol not only detects and responds to any unwanted physical access attempts, but it also protects against environmental variables that cause data loss or leakage.
At the same time, Metaco’s solutions enable financial institutions to engage in activities such as trading, tokenization, smart contract administration, and decentralised finance participation.
