Because of Metaco's scalability and security, the BCB Group has moved its digital asset custody activities to the platform operated by Ripple.
Source: coingape.com
HISTORICAL POINTS
- The primary custody platform of Metaco is now the location of BCB Group's digital asset custody activities.
- To attain the greatest levels of agility, security, and compliance, a significant choice was made.
- Aaron Sears, SVP of Ripple, discusses how Metaco helps customers scale digital asset services.
The cryptocurrency custody company Metaco, which is owned by Ripple, said on Tuesday that BCB Group has shifted its operations for digital asset custody to Metaco's primary custody platform.
For the digital asset market, BCB Group is a top supplier of trading services and payment accounts. To serve institutional clients, it provides business accounts, cryptocurrency, and foreign exchange market liquidity for several well-known cryptocurrency exchanges and companies, including Bitstamp, Crypto.com, Gemini, Kraken, Galaxy Digital, and others.
BCB Group switches to Metaco for digital asset custody.
On April 9, BCB Group stated in a press release that it was switching the governance of its digital asset custody operations from a digital asset custody provider controlled by a third party to Metaco, a digital custody platform owned by Ripple. Attaining the greatest levels of agility, security, and compliance was the key choice.
The custody technology divisions of BCB Group have now been combined into a single custody platform. By doing this, BCB will be able to expand its business offers.
IBM Cloud Hyper Protect Crypto Services are used by BCB Group. The enhanced infrastructure made possible by Metaco's custody platform will enable institutions to provide better resource management, optimal performance, and a trusted, tamper-proof execution environment for digital asset transactions. Through data encryption and client environment isolation, this guarantees end-to-end security.
Oliver Tonkin, co-founder and CEO of BCB Group, stated, "Our partnership with Ripple, Metaco, and IBM Cloud is a crucial step in that direction, as it allows BCB Group to continue delivering superior top tier services to the digital asset ecosystem, in a seamless, secure, and affordable way."
He also mentioned that the newly upgraded infrastructure will aid in obtaining the licenses from the AMF and the ACPR in France for the E-Money Institution and Digital Assets Services Provider.
The Strategic Development Ripple
SVP of Global Partner and Customer Success at Ripple, Aaron Sears, stated that the business is thrilled to work with BCB Group to achieve its goal of scaling digital asset services for customers while upholding the highest levels of security and compliance with regulations.
He continued by saying that Metaco's adaptable and safe custody infrastructure enables companies to grow in the digital asset market while completely adhering to all current and future international regulatory standards.
To broaden its reach, Ripple paid $250 million to purchase the Swiss cryptocurrency custody company Metaco in May of last year. Since then, other companies have offered financial services, such as Zodia Custody from Standard Chartered.
