Ledger Vault, by the popular French hardware wallet producer, will be the new secure crypto solution for the National Digital Asset Exchange (NDAX). The regulated Canadian crypto exchange explained in a press release which we are about to find out more in the coming altcoin news.
According to the press release, NDAX offers crypto asset trading services for institutional but also for retail clients who will use the Ledger wallet institution grade wallet solution named the Ledger Vault. This new solution will provide a multi-authorization governance infrastructure for all crypto assets and has been designed with institutional custodian with the needs of the crypto asset managers in mind according to the press release.
The new Ledger Vault solution will provide a governance framework and will enable users to keep their private keys safely stored in isolation in order to reduce custodial risks. The framework will offer segregated crypto asset accounts and will be protected with multi-signature technology.
The security offerings also include a hardware security module or HSM that offers N-signature support which can provide emergency key access for legal and accounting firms. As explained in the articles in the best cryptocurrency news sites, the Ledger Wallet’s new solution or the Ledger Vault will provide operational cold storage but also liquidity management in order to help clients comply with all of the regulatory requirements.
In the statement, the founder and CEO of the National Digital Asset Exchange Bilal Hammoud explicitly outlined the loss of customer funds in the QudarigaCX scandal which is said to increase the awareness for an improved and secured custodian solution for the assets of the users. The Ledger Wallet also says that the Ledger Vault solution will be used for all crypto assets that are on the NDAX exchange including Ethereum (ETH), Bitcoin (BTC) and Ripple (XRP).
Ledger wallet also partnered with the Legacy Trust from Hong Kong earlier in March in order to create the Ledger Vault and to provide better, institutional crypto custody services based on the solution. Also, the Swiss banking group Swissquote will offer the same custody services after trading with five cryptocurrencies since 2017.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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