On June 28, the crypto hardware wallet manufacturer and security firm Ledger unveiled its latest offering, a digital currency exchange and custodial solution service, specifically tailored for institutions. The new service, known as Tradelink, has been heralded by Ledger as “the first open network to enable custodial trading via exchange and custodial partners.”
Ledger Targets Institutions With Tradelink Launch
The security firm and crypto hardware manufacturer Ledger announced the launch of a new service on Wednesday that targets institutional investors. According to the company, the Ledger Enterprise Tradelink service will enable “off-exchange trading,” “enhanced security,” “distribution of risk,” “zero transaction fees,” and “faster and more efficient trading.”
Ledger details that it has partnered with a slew of asset managers and market makers such as Hodl Group, Wyden, Wintermute, Coinsquare, NDAX, Damex, Bitazza, Flowdesk, YouHodler, Crypto.com, Bitstamp, Huobi, Uphold Institutional, and Cex.io. Furthermore, Ledger partnered with regulated custodians such as Komainu, Tetratrust, Etana, Crypto Garage, Damex, and Kryptodian as well.
“We are creating a future-proof solution that will give Ledger Enterprise customers flexibility and security allowing institutions to de-risk their businesses,” the chairman and CEO of Ledger Pascal Gauthier detailed in a statement sent to Bitcoin.com News. “By unlocking better trading options for enterprises, we are empowering asset managers, custodians, and exchanges to navigate the changing landscape with confidence while making the whole ecosystem a safer and more transparent place,” Gauthier added.
Ledger’s latest service comes off the heels of the firm’s $109 million fundraising announcement at the end of March 2023. Furthermore, Ledger revealed a new hardware wallet at the end of 2022 called the Ledger Stax, which was designed by iPod creator Tony Fadell. The company faced backlash for a controversial backup tool it introduced but later disclosed it would work toward open-sourcing its code as much as possible. “So, we have made the decision to accelerate the open-sourcing roadmap,” Gauthier said at the time.
What are your thoughts on Ledger’s Tradelink service? Share your thoughts and opinions about this subject in the comments section below.
via Jamie Redman
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