On Thursday, Metaco, an enterprise cryptocurrency platform for securing, trading, issuing and managing digital assets, announced the addition of UnionBank as its newest client. Founded in 1982, UnionBank is one of the largest banks in the Philippines with total assets under management of US$15 billion. UnionBank will also provide its digital asset management services on the IBM Cloud, fully integrated with Metaco’s solutions.
Through the integration, UnionBank will be able to improve insurability of assets with FIPS 140-2 Level 4 certified controls for key management and migration. FIPS 140-2 is the US government’s highest computer security standard. In addition to detecting and responding to any unauthorized physical access attempts, the protocol also protects against environmental factors that lead to data loss or leakage.
At the same time, Metaco’s solutions enable use cases for financial institutions, such as trading, tokenization, smart contract management and participation in decentralized finance. Henry Aguda, UnionBank’s Senior Executive Vice President, Chief Technology & Operations Officer and Chief Transformation Officer, provided the following statement on the development:
We have a passion for meaningful and sustainable reinvention. We value our strategic partners like METACO and work with them in an alliance that makes sense to pursue a shared vision. And for UnionBank, this shared vision is customer centricity driven by new technology and innovation.
Metaco last year formed a partnership with IBM Cloud to deploy its digital asset management system on the latter. Metaco was founded in Switzerland almost eight years ago and previously closed Series A funding for 17 million dollars end of 2020.
