BCB Group shifts its management of digital asset custody to Ripple-affiliated crypto custodian Metaco for enhanced security and scalability.

The BCB Group recently decided to transfer its digital asset custody operations to Metaco, a crypto custody firm under Ripple's ownership. Metaco's flagship custody platform will now oversee the digital asset custody operations for BCB Group.

Well-regarded for its provision of payment accounts and trading services catering to the digital asset sector, BCB Group offers a range of services to institutional clients, including business accounts, cryptocurrency liquidity, and foreign exchange market services for prominent crypto firms like Bitstamp, Crypto.com, Gemini, Kraken, Galaxy Digital, among others.

Migration of Digital Asset Custody to Metaco by BCB Group

In an announcement on April 9, BCB Group disclosed its strategic decision to transfer governance of its digital asset custody from a third-party provider to Metaco, a custody platform owned by Ripple. This move was undertaken to bolster compliance, security, and operational flexibility.

BCB Group has consolidated its custody technology processes onto Metaco's custody platform, streamlining its operational infrastructure. This consolidation allows BCB to enhance its commercial services and scalability in the digital asset sphere.

Leveraging IBM Cloud Hyper Protect Crypto Services, BCB Group's collaboration with Metaco is set to optimize operational efficiency, resource management, and establish a secure and trustworthy execution environment for digital asset transactions.

The upgraded infrastructure integrates data encryption and isolated customer environments to ensure end-to-end security.

Oliver Tonkin, the Co-founder and CEO of BCB Group, commented on the collaboration with Ripple, Metaco, and IBM Cloud, emphasizing the advancement in service delivery to the digital asset ecosystem in a seamless, secure, and cost-effective manner. He also alluded to the potential facilitation of acquiring licenses from France's ACPR and the AMF, further solidifying compliance standards and operational excellence.

Ripple’s Perspective on Strategic Progress

Aaron Sears, the Senior Vice President of Global Partner and Customer Success at Ripple, expressed enthusiasm for the collaborative initiatives with BCB Group aimed at fostering scalability and operational efficiency.