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The digital asset management solution for banks

SILO is a fully integrated hot-to-cold digital asset management solution for banks in need for a comprehensive self-custody infrastructure that is highly secure, flexible and scalable.

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SILO, engineered in Switzerland for banks

Designed specifically for banks and financial infrastructure providers, SILO delivers all the elements required for digital asset custody: from secure key management to flexible wallet configurations and powerful transaction processing logic, SILO can be operated from a user interface as a stand-alone platform or interconnected with the custodian’s infrastructure through its APIs.

I have no doubt that in 10 years crypto assets will be deeply rooted in the economy. The enterprises leading transition to this future state have to bridge the legacy and crypto worlds. This is what makes SILO so attractive to them: its architecture and functionalities remarkably combine blockchain and finance expertise, and its ecosystem of partners lays the ground for a smooth implementation.

Alexander Lipton
Connection Science Fellow of the Massachusetts Institute of Technology (MIT) and Founder & CEO of Stronghold Labs

At Swisscom, trust comes first. This is why we chose SILO to be the foundation of Custodigit and our digital asset management ecosystem. It is secure, performant and provides the right elements for our Digital Asset Ecosystem.

Johannes Hoehener
Head of Fintech at Swisscom

Cryptocurrencies represent the next stage of the internet, the decentralized internet, as well as the internet of the money. METACO offers the best, most secure platform for banks wanting to offer cryptocurrency services. Our partnership is key to ensuring Temenos' clients will pay a meaningful role in the future of money.

Ben Robinson
Chief Strategy Officer at Temenos

With METACO, our aim is to help the financial sector with the opportunities and challenges of the blockchain technology by offering outstanding solutions in the field of distributed ledgers, cryptocurrencies and digital assets.

Francisco Fernandez
Chairman at Avaloq

I have no doubt that in 10 years crypto assets will be deeply rooted in the economy. The enterprises leading transition to this future state have to bridge the legacy and crypto worlds. This is what makes SILO so attractive to them: its architecture and functionalities remarkably combine blockchain and finance expertise, and its ecosystem of partners lays the ground for a smooth implementation.

Alexander Lipton
Connection Science Fellow of the Massachusetts Institute of Technology (MIT) and Founder & CEO of Stronghold Labs

At Swisscom, trust comes first. This is why we chose SILO to be the foundation of Custodigit and our digital asset management ecosystem. It is secure, performant and provides the right elements for our Digital Asset Ecosystem.

Johannes Hoehener
Head of Fintech at Swisscom

Cryptocurrencies represent the next stage of the internet, the decentralized internet, as well as the internet of the money. METACO offers the best, most secure platform for banks wanting to offer cryptocurrency services. Our partnership is key to ensuring Temenos' clients will pay a meaningful role in the future of money.

Ben Robinson
Chief Strategy Officer at Temenos

With METACO, our aim is to help the financial sector with the opportunities and challenges of the blockchain technology by offering outstanding solutions in the field of distributed ledgers, cryptocurrencies and digital assets.

Francisco Fernandez
Chairman at Avaloq

UNIFIED HOT-TO-COLD STORAGE

Managing digital assets is a technical and operational challenge. In absence of a unified platform, banks must rely on fragmented solutions which bear security threats and are burdensome to operate and integrate.

In response, SILO provides a unified platform that combines all the elements required by the custodian. From the flexible configuration of wallets supporting a wide panel of digital assets such as Bitcoin, Ethereum, Ripple and ERC-20 tokens, to the real-time tracking of transactions or the ability to set up AML policies, SILO is a full-featured, highly scalable and available platform than enables frictionless management of digital assets.

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Flexible hot, warm and cold wallet configurations allowing various liquidity versus security tradeoffs

Wide support of cryptocurrencies, tokens and permissioned ledgers

Integrated order processing services with real-time blockchain tracking and notification services

Custom indexers allowing advanced transaction and wallet management

FULL HARDWARE SECURITY

Securing digital assets requires more than a trustworthy management of the key material; it needs a holistic approach to security to address all possible points of failure, from storage to processes and governance.

This is the core of SILO: a security-by-design infrastructure where all critical parameters and operations are enforced by the secure execution environment of a certified, tamper-proof hardware. SILO’s security model is trusted by the largest cryptocurrency insurers globally, who are ready to cover the custodian’s assets under management in hot, warm and cold storage.

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Double tamper-proof hardware with FIPS 140-2 level 3 certification

Hardware-enforced governance including multi-signature authorizations

Advanced key management options including off-line backup and deterministic key derivation

Hardware-enforced loss limitation policies including velocity limits and time-locking.

SILO PLATFORM

SILO PLATFORM

Desktop Application: SILO desktop application is a simple way to administer and operate SILO. It is compatible with Windows, MacOS and GNU/Linux.

Authentication Mobile Application: SILO mobile application stores the keys in the secure key store of the mobile and acts as an approval terminal for SILO operations.

Authentication Library: SILO signing library enables an easy integration of the SILO approval signatures in a third-party application.

Command Line Interface: SILO command-line interface is a utility that consumes SILO’s API and allows for a quickstart without having to peruse the whole REST API documentation. The CLI can also be used for integration purposes.

Provides a complete wallet management service for hot and warm wallets leveraging best-in-class hardware security while minimizing the operational footprint. It includes REST APIs, orchestration services, an authorization engine, and loss limitation rules protecting the HSM from undue access, and indexers and gateways for cryptocurrency networks and permissioned ledgers.

The HTTP REST API is the main gateway to administer and operate the SILO platform.

The Hardware Secure Enclave is a dedicated platform used to run sensitive processes. Both the computing unit (CPU) and memory (RAM) is isolated from the rest of the components. The enclave in our specialized hardware extends the same hardware enforced security guarantees that HSMs provide to key material to protect the policy engine that manages the governance, access, and use of the private key material.

  • Authorization Engine: The Authorization Engine enforces transaction approval workflows. It relies on multi signature and role-based access to enforce segregation of duties and four-eyes checks before a transaction is signed and broadcast to the distributed ledger.
  • Loss Limitation Engine: The Loss Limitation Engine is a last resort security gate enforcing automated detection of fraudulent transactions with velocity checks and applying time-locking periods on suspicious transactions before broadcast.
  • Signature Service: The Signature Service provides final transaction approval through a digital signature of the blockchain transaction. The signature is computed by the hardware security module (HSM), a physical computing device that safeguards and manages digital keys for strong authentication and provides processing of cryptographic tasks.
  • Hot & Warm Key Management Module:
    • A Hot Wallet is typically connected and automated. It provides the highest level of liquidity and can be used to process payments on an e-banking platform, or withdrawal requests on a crypto-exchange.
    • A Warm Wallet is manually-operated. It enforces strict approval workflows allowing four-eye checks and segregation of duties. It provides an ideal balance between liquidity and security and can be used for longer term custody. Combined with advanced blockchain primitives such as true multi-signature, it can be the basis of a Cold storage.

Provides full support for Ethereum’s smart contracts. Beyond ERC-20 tokens, the module allows Ethereum wallets to interact with any smart contract on the blockchain.  All interactions are secured by SILO hardware enforced governance and authorization.

  • Tokenization of Assets: Secure governance and authorization for the asset tokenization process including minting, burning and transfers.
  • Custodial Services: Enables the secure management of the full lifecycle of a tokenized asset which could include dividends, coupon interest payments, corporate actions, etc.

SILO is a highly available platform that can be deployed as a fault tolerant, multi-node cluster with consensus-based approval. It supports multi-datacenter geo-distribution to meet the client’s resiliency and business continuity requirements.

SILO comes with integrated nodes and blockchain indexers. This enables tracking of blockchain data and real time transactional information. Indexers are customizable to include compliance logic into the processing of inbound and outbound transactions.

The Disconnected Environment provides a complementary service for fully air-gapped, deep cold storage. It relies on best-in-class hardware security and physical isolation to provide the ultimate level of security. Its full compatibility with SILO’s Connected Environment makes it seamless to operate in combination to Hot and Warm Wallets.

Deep Cold Key Management Module: A Deep Cold Key is manually-operated and fully air-gapped. It provides the highest level of security for blockchain keys and is the best-in-class solution for long term custody of digital assets. Transaction requests are generated in the Connected Environment but require a manual authorization on the disconnected SILO.

  • Core Banking Integration: SILO exposes a REST API that is fully documented and has been successfully integrated into multiple core banking systems.
  • Liquidity Services Integration: SILO has partnered with firms that can provide integrated exchange and OTC market access as well as order management for trading cryptocurrencies and digital assets.
  • Chain Forensics Integration: SILO has partnered with firms that specialize in providing forensic tools to address regulatory requirements such as anti-money laundering (AML) and combating the financing of terrorism (CFT).

FLEXIBLE INTEGRATION OPTIONS

SILO is a self-sufficient platform that packages all the services and infrastructure elements required to manage digital assets, including SILO servers, APIs, distributed ledger indexers, full nodes and a client application to administer the system and operate the wallets.

To facilitate implementation, SILO can be deployed on-premises or as a managed service. It can be consumed stand-alone, through SILO’s GUI client application,  rest APIs, as well as through the bank’s core banking software. Our network of infrastructure partners is ready to support any integration: pre-integrations to various core banking software are readily available, including Avaloq, Finnova, Swisscom and Temenos.

ON PREMISE

Keys

Hardware

Backend

Indexers

Nodes

HYBRID
MANAGED
INFRASTRUCTURE

Keys

Hardware

Backend

Indexers

Nodes

MANAGED
INFRASTRUCTURE

Keys

Hardware

Backend

Indexers

Nodes

Accessed/managed by:

Client

METACO

3rd party

METACO CEO talks about digital assets in the banking sector

Adrien Treccani, METACO SA CEO, talks about the importance of digital assets in the banking sector and the role of METACO – and its global market infrastructure provider partners, such as Swisscom or Avaloq – laying the foundation of the tokenized economy I CV Summit 2019 I 27 March 2019, Zug (Switzerland)

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