Swiss crypto prime brokerage Covario to use METACO Harmonize to scale operations
METACO, a provider of security-critical infrastructure for blockchain assets, today announced that Covario, a Swiss-based crypto-asset prime brokerage service, has selected the METACO Harmonize platform to organize and scale its digital asset custody operations.
Harmonize will coordinate Covario’s existing vault and sub-custody solutions. Further, the platform will provide a uniform policy management framework for Covario’s stable of technology solutions.
Most organizations working with digital assets find that, as they mature, they need to work with multiple vaults, sub-custodians, and liquidity providers, irrespective of whether their focus is trading, custody, or tokenization. This emerging situation creates institutional challenges in terms of security, and scalability; with a proliferation of access points weakening end-to-end processes.
This was the experience of Covario, an independent prime broker for digital asset managers based in Zug; which currently supports multiple vault providers and sub-custodians, and connects to more than 20 exchanges and liquidity providers, a list that is growing continually.
As such, the firm was looking for a solution to manage this complexity and mitigate the risks in working with this growing ecosystem of partners and selected METACO Harmonize as its digital asset orchestration engine. Harmonize acts as the overarching policy layer to ensure tight management of Covario’s operations; coupled with a single point of integration to its various internal systems.
“Covario’s focus has always been on providing secure, reliable, fast, and compliant services to the institutional crypto market. With the vast group of electronic exchanges, 3rd-party custodians, financing pools, and alternative trading venues that we connect to globally; we have been searching for a solution to help unify our policy management while enhancing security and scalability. The METACO Harmonize product impressed us with its flexibility and sophistication, and is a perfect complement to our existing stable of leading institutional financial technology solutions.”
– Mark Banner, Covario Co-Founder
METACO Harmonize is the ‘orchestration layer’ for a range of sub-products. The platform allows institutions to seamlessly integrate potential use-cases into their infrastructure. With flexible deployment options including Software-as-a-Service (SaaS) and on-premise; METACO Harmonize ensures there are no trade-offs between security and agility for firms looking to organize a digital asset use case.
“We have seen first-hand how the provision of multiple vaults as well as access to sub-custodians and liquidity venues is essential to their operations; and how this has come at a cost in terms of loss of end-to-end control and increased systems integration overhead. Consequently, we created METACO Harmonize; which allows customers such as Covario to continue to grow and manage their partner ecosystem flexibly, economically and securely.”
– Adrien Treccani, METACO CEO
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