This innovation simplifies operations by eliminating manual processes and integrating sophisticated security measures. These measures include disconnected network operations, time-based security protocols, and the electronic approval of transactions by multiple stakeholders, moving away from traditional methods.
At the heart of OSO’s system, the policy engine acts as the central component, promoting secure communication between two intentionally noninteracting applications. This strategic design not only overcomes the constraints of current cold storage options but also aims to establish an effective and secure framework for transactions involving digital assets.
IBM has worked closely with Metaco, a digital asset custody provider affiliated with Ripple, to customize OSO to meet the specific needs of its clients. The seamless integration of OSO and Metaco’s orchestration system creates a secure transaction environment that minimizes the risk associated with storing digital assets in cold storage. This innovative solution allows clients to incorporate institutional cold storage technologies that align with their unique management models.
Ripple’s acquisition of Metaco in May 2023 was a significant milestone that expanded the offerings of the blockchain and crypto solutions giant and introduced new revenue streams. The collaboration with IBM further positions Ripple and Metaco as leaders in redefining solutions for financial institutions, providing a practical alternative in the ever-changing landscape of digital asset storage.