- SMART VALOR, Genesis Trading, Global Advisors, LCX, IronChain Capital and XBTO are participating in Ledger Vault early access program
- Institutional investors and platform providers, including hedge funds and family offices, working to develop Ledger Vault enterprise security platform
- Ledger Vault the only digital asset security solution that gives investors full control of their assets
A 6 strong group of leading digital asset investors, traders and platform providers announced on May 16th their participation in a new program to develop security and compliance solutions for digital assets. Having sold more than 1m+ Nano S hardware wallets for digital assets, cryptosecurity leader Ledger has created an early access program for the Ledger Vault, the first enterprise-grade security solution for digital assets.
With the ten largest digital assets alone reaching total combined market capitalisations of $300bn+, institutional investors are actively exploring ways to gain exposure to a rapidly emerging asset class. One in five finance firms are considering launching crypto trading and investment businesses in the coming year.
Currently, digital asset investors face a number of security and compliance challenges, from hack attempts to physical safety risks (e.g. kidnapping or assault) and non-compliant trading activity.
“A secure enterprise solution for custody of crypto assets such as Ledger Vault, in combination with regulatory approval, is the winning formula in the crypto space today and we are excited to be the first Financial Intermediary company to achieve this,” said Olga Feldmeier, CEO of SMART VALOR.
The company is on the cusp of receiving the status of Financial Intermediary (AML licence) in Switzerland enabling it to provide custody services to third parties.
Ledger Vault will protect institutional investors from the operational risks of trading digital assets, allowing, for the first time, asset managers and custodians to conveniently trade this new class of asset without compromising on security. Ledger’s Vault product enables:
· Asset security through HSMs (Hardware Security Modules)
· Support for multiple digital asset and currency types
· Multi-signature approvals, enabling compliance oversight of individual transactions with granular controls and approval options
· Rate limiting controls, providing compliance oversight of individual transaction and trading activity
Ledger CEO Eric Larcheveque said: “Ledger is a well-established security solution provider with over 1 million Nano S hardware wallets sold. The Ledger Vault, a secure hardware based key management solution for digital assets, is a natural expansion of our offering, tailored to address the challenges faced by the financial industry. We are bringing together a group of leading thinkers and businesses across the spectrum of digital asset investment and trading to test and develop the Ledger Vault, building a digital asset security solution built for and with enterprise customers.”
The Ledger Vault is the only digital asset security solution that gives investors full control of their assets. In coming months, Ledger will work alongside their partners at Genesis Trading, Global Advisors, LCX, IronChain Capital, XBTO, and Smart Valor to test and develop hardware and software security features for digital assets, before wider availability of the Ledger Vault to institutional investors later in 2018.