Paris-based Ledger, the crypto security firm, this morning announced its expansion into the institutional trading space.
The company is rolling out a new trading network for institutions named Tradelink to enable custodial trading via select exchange and custodial partners.
“We are creating a future-proof solution that will give Ledger Enterprise customers flexibility and security allowing institutions to de-risk their businesses,” said Pascal Gauthier, chairman and CEO of Ledger, in a statement. “It is this core security foundation that can now be used to reduce counterparty risk and enable custodial trading for institutional investors.”
A bevy of wholesale partners will support the exchange at launch, including asset managers Laser Digital and Hodl Group; custodians such as Komainu, TetraTrust, Etana, Crypto Garage, Damex and Kryptodian; and exchanges and other kinds of brokers including Crypto.com, Bitstamp, Huobi, Uphold Institutional, CEX.IO, Wintermute, Coinsquare, NDAX, Damex, Bitazza, Flowdesk and YouHodler.
In in its announcement, Ledger highlighted the “growing need to mitigate third-party risk” in crypto trading, given heightened security and regulatory concerns — while positioning Tradelink as a solution, in that it eliminates “network lock-in risks.”
Founded in 2014 and best-known for hardware wallets, Ledger is among Europe’s biggest crypto businesses. It has sold more than 6 million devices to customers across 200 countries to date, according to this morning’s announcement.
The company raised another $108 million in March this year at a flat $1.5 billion valuation.
source:theblock
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