Turkish technology company serving in the field of mobility to leverage bank-grade Harmonize platform for scalable, secure and fully-compliant management of digital assets
LAUSANNE, Switzerland , Jan. 10, 2023 /PRNewswire/ — Togg, a global mobility technologies and ecosystem provider has selected METACO, the market-leading provider of digital asset custody orchestration technology to complex, global financial institutions, to underpin and secure the custody and governance of digital assets.
Being the first mobility company that offers digital asset custody wallets, Togg has a vision to become ‘a global USE CASE MOBILITY® provider’ and believes that blockchain will be one of the key enablers of such a vision. Togg unlocks novel and sustainable opportunities for users through its digital ecosystem fully integrated with Blockchain. Togg Mobility Ecosystem, leveraging the Togg Blockchain Platform, emerges as a solution to address challenges around urban mobility and to lead the future where mobility services merge with smart technologies for a frictionless user journey.
The Togg Blockchain Platform is developing as an innovative Mobility-as-a-Service platform (MaaS) in which users can pursue a frictionless mobility experience. Built on the Avalanche C-Chain, Togg’s blockchain solution enables users to exchange data across the ecosystem in a safe, secure and green manner. Togg aims to enable its Mobility Ecosystem users across Türkiye and Europe to benefit from a range of innovative use cases underpinned by smart contracts, which include tokenization of mobility services, assessment of CO2 footprint and NFT ownership.
Togg will leverage METACO’s digital asset custody and orchestration platform, Harmonize™, to manage the secure custody and governance of digital assets with industry-leading compliance standards, already implemented by multiple Tier 1 banks operating in the digital assets sector. METACO’s technology, which runs on IBM Cloud, provides institutional-grade storage for Togg treasury management, as well as an easy to use wallet solution for end-users. In addition, Harmonize provides a versatile smart contract management framework for the Togg ecosystem, providing end-to-end digital asset lifecycle management and full asset servicing support, including minting, burning, storage and transfer of NFTs.
M. Gürcan Karakaş, Chief Executive Officer at Togg, commented, “We are designing an open mobility ecosystem that is interconnected and interoperable with others, such as smart home and smart city ecosystems. Blockchain enabled digital tokens allow data and other assets to be stored and transferred in a fast, secure, and green way. By leveraging technology from METACO, we make this possible, and take another step forward in redefining the global mobility ecosystem.“
Alongside Harmonize, Togg will also be supported by IBM Cloud Hyper Protect Services. Built on IBM LinuxONE and running on IBM Cloud, this service is designed to provide companies with complete authority over their encrypted data, workloads and encryption keys – not even IBM as the cloud provider has access. When paired with METACO’s Harmonize platform, this infrastructure can help digital asset custodians go to market fast, ensure assets are protected and achieve great results, such as scaling to millions of wallets.
Adrien Treccani, CEO and Founder of METACO, commented: “Togg is at the vanguard of innovation and technology development in Türkiye, offering compelling new benefits to its users through the integration of digital assets into operations. We’re proud to partner with Togg to provide a platform that offers bank-grade security and compliance for the custody and management of these assets. This partnership demonstrates the continued momentum of METACO, as we move to expand our addressable market and become the technology partner of choice for leading global corporations seeking to embed digital assets into their business model.”
METACO is a leading technology provider to financial institutions and corporations in the digital asset ecosystem with significant Tier 1 and Tier 2 bank implementations in various regulatory jurisdictions, including Switzerland, Germany, France, United Kingdom, United States, Singapore, Australia and Hong Kong. Its platform, Harmonize, delivers the most secure, compliant and flexible custody solution in the market, in combination with the end-to-end, secure orchestration of workflows and governance processes across the entire digital asset stack, with no single point of compromise.
An intellectual property of Turkey, Togg is a globally competitive USE CASE MOBILITY®️ brand. Togg was established on June 25, 2018 as a joint venture of Anadolu Grubu Holding A.Ş., BMC Otomotiv Sanayi ve Ticaret A.Ş., Turkcell İletişim Hizmetleri A.Ş., Zorlu Holding A.Ş. and the Union of Chambers and Commodity Exchanges of Turkey (TOBB).
Togg started manufacturing at its Gemlik facility in 2022, as part of its focus on developing next-gen smart and connected EVs and the surrounding mobility ecosystem, for which the company also develops novel technologies, services, customer experiences, and business models. Togg aims to reach a production of 1 million by 2030 across five connected EV models, built over a common platform.
Founded in 2015 in Switzerland, METACO is a technology company whose mission is to enable financial and non-financial institutions to securely manage their digital asset business and capitalize on the burgeoning digital asset economy.
The company’s core product, Harmonize, is an orchestration system for digital assets. From cryptocurrency custody and trading to tokenization, staking and smart contract management, the platform seamlessly connects institutions to the new world of decentralized finance (DeFi).
METACO has established itself as the Tier 1 banking standard, trusted by and in live production with global custodians, exchanges, and private and universal banks. Its software, technology and infrastructure solutions enable financial institutions to store, trade, issue and manage digital assets, with the highest possible security and agility.