For investors, crypto funds, exchanges, and companies
Implementing a safe digital asset trading environment
Digital Asset Custody Service (DACS) announced that it is working closely with IBM to build cloud services that can run on-premises for large enterprises, while introducing a proprietary solution developed for digital asset custody services.

According to recent research, the size of the global cryptocurrency asset management market is expected to grow from $94 million in 2018 to nearly $207 million in 2023. This rapid growth is driven by the demand from fintech companies, crypto projects, digital banks, stock exchanges, and custodian banks seeking to utilize digital asset custody technology.

The end-to-end security services provided by DACS ensure a trustworthy environment for corporate and individual digital asset trading, offering enterprise-level reliability for institutional investors, crypto funds, exchanges, token projects, commercial banks, corporations, high-net-worth individuals, and asset management firms.

DACS plans to support services familiar to institutional investors, such as lending, deposits, escrow, and payment settlements, as well as crypto-related services like token monetization and cold storage services (services that store cryptocurrencies offline).

DACS, which plans to provide direct services to general consumers through portal applications or secure mobile connections, plans to partner with commercial banks for this purpose.

Customers and executives no longer need to worry about the security of digital assets stored or in transit. IBM LinuxONE is a Linux server capable of encrypting all application data stored or in transit by supporting hardware-based encryption on both the on-chip and a separate CryptoExpress card.

LinuxOne was designed based on the experience with IBM Cloud Private. Therefore, advanced open-source-based frameworks and technologies such as Docker containers, Kubernetes, and Terraform can be provided to private and on-premises data centers along with IBM's services and support.

Companies using LinuxOne can upgrade existing applications and easily develop open cloud-native applications while maintaining the controls and compliance required by the organization.

Secure Service Containers for IBM Cloud Private protect data and applications from the misuse of infrastructure management credentials by internal and external threats.

Brad Chun, CIO of Shuttle Holdings, a shareholder of DACS, and head of DACS’s technology division, said, “Digital asset insurance will emerge as a critical factor that insurers must consider when selecting the technology to apply to asset security.”

"The on-premise pervasive encryption capabilities provided by IBM Linux ONE were the key differentiating factor that led us to select IBM as the most secure platform for DACS services," they added, stating, "Third-party cryptographic signature systems failed to provide the level of security and flexibility we required."

DACS will provide a secure means of storing digital assets through IBM Cloud Private Secure Service Containers based on IBM LinuxONE servers, which encrypt tokenized assets on-premises to prevent potential cyberattacks on digital assets as well as internal threats.

Jeong Seung-geon, Managing Director of IBM Korea’s zSystems and LinuxOne Business, stated, “Security is the main focus of the cryptocurrency community.“One of the growing concerns is that the need for secure digital asset storage has been further highlighted by recent large-scale thefts,” he said, adding, “I believe that architectures in secure on-premises environments will become the standardized pattern for crypto custody, exchanges, and blockchain services globally.”