Togg onboards Metaco for secure blockchain-based open mobility ecosystem on Avalanche blockchain

1 min read

Turkish automaker Togg onboards Metaco for crypto custody and governance

The partnership with Metaco will include using its digital asset custody and orchestration system, Harmonize, to safeguard the custody and governance of Togg’s digital assets.

Turkish automaker Togg onboards Metaco for crypto custody and governance

Togg, the Turkish automotive bigwig, recently partnered with Metaco – a premier digital asset custodian and orchestration system provider- to secure its open mobility ecosystem built on Avalanche blockchain technology.

Togg seeks to make smart contract-driven use cases accessible for users in Turkey and Europe, such as tokenization of transportation services, measuring CO2 footprint, and non-fungible asset ownership. After teaming up with Metaco’s digital asset custody & orchestration platform Harmonize, Togg can be confident that their encrypted data is safely safeguarded while complying with the standards of major banks dealing with crypto assets like Bitcoin. Moreover, they are granted complete control over encryption keys and workloads.

Turkish automotive company Togg announced a partnership with Metaco — a digital asset custody and orchestration system provider — to secure its open mobility ecosystem built on Avalanche.

Togg’s mobility-as-a-service platform aims to deliver smart contract-powered use cases — including tokenization of mobility services, assessment of CO2 footprint and nonfungible token ownership — for users in Turkey and Europe.

The partnership with Metaco will see the use of its digital asset custody and orchestration platform, Harmonize, to safeguard the custody and governance of Togg’s digital assets. Sharing insights on the initiative, Togg CEO Mehmet Gürcan Karakaş stated:

“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.”

Hosted over IBM Cloud, Metaco’s platform provides Togg with total control of its encrypted data, workloads and encryption keys. According to the announcement, Harmonize is equipped with compliance standards used by Tier 1 banks dealing with digital assets.

German car manufacturer BMW recently onboarded two blockchain firms to improve its customer loyalty program in Thailand. On Dec. 29, 2022, BMW announced partnerships with blockchain infrastructure firm Coinweb as its decentralized architecture provider and BNB Chain for settling transactions.

The initiative’s first phase focuses on integrating decentralized tech into automating BMW’s daily manual operations. The project’s second phase would see Coinweb develop a customized Web3 application for BMW’s customer loyalty program.

Summary

Turkish automaker Togg has recently partnered with Metaco to strengthen their open mobility ecosystem that is built on the Avalanche blockchain. By taking advantage of smart contracts, this platform will offer various use cases, including tokenization of mobility services, measuring CO2 footprint and offering non-fungible token ownership.

With Metaco’s Harmonize platform, Togg can confidently protect their digital assets and assure compliance with Tier 1 bank standards. By partnering with Metaco, Togg will acquire full control over its encrypted data, workloads, and encryption keys – allowing them to provide open mobility to users in Turkey as well as Europe; thus accomplishing the company’s ambition of achieving it’s goal.

 

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