Philippine bank UnionBank has entered into a partnership with Metaco and IBM, in which the companies will provide the bank with their technologies for storing digital assets.
The Swiss company Metaco, specializing in the protection and storage of digital assets, has announced a partnership with one of the largest Philippine banks, UnionBank. UnionBank’s total assets exceed $15 billion. The bank will also partner with IBM Cloud, a cloud-based cryptocurrency storage platform that entered into an agreement with Metaco early last year.
Through this partnership, UnionBank will be able to improve the security of its clients’ assets. This will use the US government computer security standard FIPS 140-2 Level 4. It is able not only to track all unauthorized attempts to access sensitive information, but also to protect data from loss or leakage.
“We share a common vision with Metaco on how to take care of our clients’ assets. And we think the future is in technology and innovation,” said UnionBank senior vice president Henry Aguda.
Recall that in September last year, UnionBank teamed up with cryptocurrency company Hex Trust to launch a custody service for digital assets.
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