IBM enters crypto custody market with tech designed for banks

posted 9 days ago
IBM is entering the crypto custody space. Later this month, Shuttle Holdings, a New York investment firm, will launch the beta version of a custody solution for digital assets built on IBM’s private cloud and encryption technologies.

The custody service that Shuttle and IBM are offering differs from most cold storage solutions. Brad Chun, Shuttle’s chief investment officer said “There are always trade-offs between security and efficiency, but we do not utilize a traditional cold storage system. Instead, we keep keys at rest, encrypted in multiple layers as data blobs so that an organization can store these backups using their pre-existing disaster recovery and backup processes and media.”
Tags: bitcoin, blockchain, news