A cryptocurrency custody service entering its beta launch this month will use cloud infrastructure provided by international tech powerhouse IBM. It’s the latest notch in the powerful firm’s cryptoverse belt, as the company has already undertaken a slew of blockchain pilot projects over the last few years.
That new custody solution, the Digital Asset Custody Services (DACS), is being launched by investment company Shuttle Holdings.
It’s currently unclear the extent to which IBM was directly involved in the creation of DACS. However, it is known the custody platform will rely on the IBM Cloud Hyper Protect Services suite, which leverages enterprise-grade Linux servers from the tech titan’s IBM LinuxONE offering. IBM had highlighted the capabilities of that suite by allowing Shuttle Holdings to present on DACS at the former’s Think 2019 conference in February.
The target market for the service will be institutional investors, as the platform is designed to scale up and offer customized business logic as needed.