Ledger, a maker of crypto hardware wallets and security company, revealed its newest service on June 28: a digital currency exchange and custodial solution service designed especially for institutions. Ledger hails the newly launched Tradelink service as “the first open network to enable custodial trading via exchange and custodial partners.”
On Wednesday, a new service aimed at institutional investors was launched, according to a statement from the security company and cryptocurrency hardware maker Ledger. The Ledger Enterprise Tradelink service, according to the business, will allow for “off-exchange trading,” “enhanced security,” “distribution of risk,” “zero transaction fees,” and “faster and more efficient trading.”
The partnership between Ledger and numerous asset managers and market makers, including Hodl Group, Wyden, Wintermute, Coinsquare, NDAX, Damex, Bitazza, Flowdesk, YouHodler, Crypto.com, Bitstamp, Huobi, Uphold Institutional, and Cex.io, is detailed in the company’s official website. Ledger also collaborated with a number of authorized custodians, including Komainu, Tetratrust, Etana, Crypto Garage, Damex, and Kryptodian.
According to Pascal Gauthier, chairman and CEO of Ledger, “We are developing a future-proof solution that will give Ledger Enterprise customers flexibility and security allowing institutions to de-risk their businesses.” “We are helping asset managers, custodians, and exchanges to navigate the shifting landscape with confidence while making the entire ecosystem a safer and more transparent place,” Gauthier continued. “By unlocking greater trading choices for companies.
The launch of Ledger’s newest service follows the firm’s announcement to raise $109 million at the end of March 2023. Additionally, Ledger debuted the Ledger Stax, a new hardware wallet created by Tony Fadell for the iPod, at the end of 2022. The company received criticism for a contentious backup program it released, but later said it would endeavor to make its code as open-sourced as feasible. Therefore, we have decided to quicken the open-sourcing roadmap, said Gauthier at the time.