Covario, a digital asset prime broker, has selected METACO to scale its digital asset custody operations according to a statement from the firm. Covario says that METACO’s Harmonize will coordinate existing vault and sub-custody solutions and provide policy management framework for Covario’s technology solutions.
Covario says that many organizations working with digital assets need to work with multiple vaults, sub-custodians, and liquidity providers, as they grow. This can create institutional challenges in terms of security, and scalability. This was the experience of Covario, a prime broker that supports multiple vault providers and sub-custodians, and connects to more than 20 exchanges and liquidity providers, a list that is growing continually.
METACO Harmonize acts as the policy layer to ensure the management of Covario’s operations, coupled with a single point of integration.
Mark Banner, Covario Co-Founder, says their 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.”
Based in Switzerland, Covario AG is an independent prime broker for digital asset managers. It offers trade execution services including direct market access and OTC trading, alongside lending, margin financing, custody, and capital introduction.