Onchain Custodian partners with IBM for asset safekeeping

Onchain Custodian's digital asset custody SAFE platform complements its cold storage offering with a wallet management service underpinned by IBM Cloud Hyper Protect Crypto Services, which allows for secure key generation and protection

Singapore-headquartered Onchain Custodian, the institutional digital asset investments custody service, has released a new version of its SAFE platform.

The new version integrates cryptography services on cloud infrastructure securely hosted by IBM.

Onchain Custodian’s digital asset custody SAFE platform complements its cold storage offering with a wallet management service underpinned by IBM Cloud Hyper Protect Crypto Services, which allows for secure key generation and protection.

The platform update enables digital asset exchanges, fund managers and other users to outsource the custody of their digital asset wallets while securely automating transaction flows based on threshold and other security measures.

Alexandre Kech, chief executive officer of the Singapore-headquartered company, which is backed by Fosun, DHVC and Sequoia Capital, explained the benefits of the IBM integration: “Onchain Custodian can focus on building the best execution platform and user experience … while IBM provides us with the best HSM on cloud solution in the market to securely host, maintain and operate our SAFE key management infrastructure.”

Rohit Badlaney, director for IBM Z as a Service, added “By taking advantage of IBM Cloud Hyper Protect Services, Onchain Custodian can build a highly resilient and secure cloud-based solution that digital asset custody deserves. Supporting custodians like Onchain Custodian is an ideal use case for IBM Cloud Hyper Protect Services.”

Image: Shutterstock

Mark Dugdale