CDG Chooses IBM’s Hyper Protect Infrastructure to Secure its Custodial Platform, Sentry
Custody Digital Group deploys IBM Cloud Hyper Protect Services to secure their “Sentry” digital asset platform as they build out enhanced functionality and risk management capabilities for the market.
London, Date 05/07/2020 — Custody Digital Group (CDG), an Irish registered company, is launching its Sentry platform to securely manage digital asset wealth, having already seen demand from direct deposit clients, trading firms and institutions.
The demands placed on custodians in the digital asset market are far greater than they were several years ago; both in terms of middle office functionality and support for new use cases. Rather than looking to niche solutions offering key storage, clients are seeking infrastructure for digital assets that takes a mature approach to implementing governance, risk and financial controls. With the announcement of the Sentry platform, CDG aims to meet the growing need for comprehensive market infrastructure.
Luke Sully, CEO of CDG said: “After an extensive market evaluation we found that IBM LinuxONE offers the best-of-breed in hardware-based cryptography to deliver an integrated confidential computing solution. Leveraging IBM Cloud Hyper Protect Services as a strong base layer gives us an unrivaled advantage to meet bleeding edge technical requirements with regards to information security and turn-key, compliant infrastructure that also meets stringent regulatory demands.” IBM Cloud Hyper Protect Virtual Servers for securing confidential data and business IP, and IBM Cloud Hyper Protect Crypto Services built on FIPS 140–2 Level 4 [1]Hardware Security Modules (HSMs) underpin the core security of CDG’s Sentry platform to support a wide range of institutional requirements.
CDG’s Sentry platform supports clients throughout their investment lifecycle by making the digital asset market convenient to assess and use, even as assets and product offerings expand. In order to meet the growing pace of demand, IBM’s Hyper Protect Cloud Services have also been equally key to achieving a short time-to-market and end-to-end product maturity in record time. “The time and capital efficiency created by collaborating with IBM puts us on a different trajectory than other companies in the space and these cost savings are passed down to the client,” according to Sully.
Additionally, CDG’s delivery of a crypto-asset accounting solution is a strategic imperative for clients now operating as digitally native finance entities in their own right. This capability is secured by IBM Cloud Hyper Protect DBaaS with a Postgres backend; providing CDG’s clients with the ability to manage granular reporting requirements. This capability fills the gap in the market to provide an enhanced level of risk management for digital asset users with multi-asset exposure. “The need for our services is clear by the number of trading, liquidity management, credit, and investment strategies now looking to CDG for support,” Sully noted.
Access to yield remains a critical feature for investors, especially in the current climate. As they continue their product development, CDG will be offering a centralized product venue for clients to access yield generating products directly from custody, therefore playing an important role in creating enhanced market efficiency. “CDG is fast becoming a go-to partner for clients seeking a single point of connectivity into the digital asset market,” Sully said.
“By utilizing IBM Cloud Hyper Protect Services, CDG can take advantage of an enterprise grade platform for security to help their clients to securely manage digital asset wealth,” said Rohit Badlaney, VP, IBM Z Hybrid Cloud. “In addition, CDG hopes to be better equipped to address more complicated risk and governance challenges in the digital asset space, made possible through the inherent capabilities of IBM Cloud Hyper Protect Services powered by IBM Z.”
About CDG
CDG is an API-first company registered in Ireland who will open their Sentry system to users this summer, having already secured demand with direct deposits, trading clients and institutional partners.
To learn more about CDG, visit: custodydigital.com
[1] FIPS 140–2 Security Level 4 provides the highest level of security defined in this standard. At this security level, the physical security mechanisms provide a comprehensive envelope of protection around the cryptographic module with the intent of detecting and responding to all unauthorized attempts at physical access. See https://csrc.nist.gov/projects/cryptographic-module-validation-program/standards and https://csrc.nist.gov/Projects/cryptographic-module-validation-program/Certificate/3410.
