FieldLevel Financialthe American financial services company bringing together digital assets and traditional banking services on a single platform has selected METACO, the provider of digital asset custody orchestration technology to complex global financial institutions. LevelField deploys its institutional digital asset management operations on IBM Cloud to leverage the confidential computing capabilities of IBM’s digital asset infrastructure.
Founded by banking executives with decades of global experience, LevelField is in the process of acquiring a federally chartered bank in the United States. To launch its digital asset offering, LevelField will use METACO’s digital asset custody and orchestration platform, Harmonize, enabling customers to securely store, exchange and settle digital assets. Harmonize was built in partnership with Tier 1 banks and provides security and compliance for LevelField to operate in the digital asset industry. This foundational infrastructure provides LevelField with the ability to 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 Services. This configuration will allow LevelField to scale to millions of wallets, while retaining control over private keys for risk management. IBM’s digital asset infrastructure is designed to help custodians achieve better results when using METACO’s Harmonize platform, including improved scalability, security, and compliance.
IBM Cloud Hyper Protect Crypto Services is designed to allow METACO vaults to store encrypted keys externally in a database while providing the protections of IBM’s FIPS 140-2 Level 4 Hardware Security Modules (HSMs) . With external key storage enabled by IBM’s master encryption key technology, custodians can scale to billions of wallets. Sensitive processing on METACO Harmonize is secured by hardware isolation of IBM Cloud Hyper Protect virtual servers, certified common vriteria. IBM Cloud Hyper Protect Secure Build Server is designed to reduce the risk of malicious code insertion during Harmonize deployments and address unauthorized rule manipulation by working to make policies on the platform tamper-proof. Regardless of how Harmonize is consumed, custodians retain physical control of the asset root of trust and the policies that govern asset management, via IBM HSM smart cards.
seamus Donoghue, Vice President of Strategic Alliances at METACO, said, “We are thrilled to support LevelField in realizing its vision to unite digital assets with traditional finance to create the most trusted banking platform of the future. Harmonize delivers bank-grade security and compliance for digital asset custody and management, plus the agility for innovative companies like LevelField to get to market and scale quickly. With a flexible governance policy framework that can be applied to any type of digital asset transaction, a model with no single point of failure, and the ability to scale and offer any type of digital asset service, Harmonize provides a highly secure and flexible foundation solution for LevelField to manage its digital asset operations, both today and in the future. ”
Established in Houston in 2018 and currently awaiting a banking charter, LevelField aims to combine digital banking, securities and digital assets to provide comprehensive banking for the digital economy. The company is building a customer-focused financial services platform for digital and traditional assets that leverages the strengths of the US banking system, is built on a strong foundation of regulatory compliance, and leverages the expertise of its management in the traditional banking sector.
Michael Clayton, CTO, LevelField, said, “LevelField is made up of career bankers who deeply understand the importance of compliance and security. We searched for the platform that would allow us to meet our rigorous security and compliance standards, while giving us the flexibility to grow our digital asset business in all directions. METACO’s Harmonize orchestration platform, supported by IBM Cloud Hyper Protect Services, is the ideal solution and something that could become the benchmark in the industry. This infrastructure allows us to demonstrate our compliance and the highest levels of security, regardless of the area of digital assets in which we develop. »
METACO, the digital asset ecosystem technology provider, has significant implementations with Tier 1 banks, exchanges and other financial institutions. Its platform, Harmonize, offers the most secure, compliant and flexible custodial solution on the market, in combination with end-to-end secure orchestration of workflows and governance processes across of the digital asset stack, with no compromise points.