Cryptocurrency Security Leader Onboards Canadian Financial Institution onto Ledger Vault Platform
NEW YORK, April 29, 2019 /CNW/ - Today Ledger, a global leader in security and infrastructure solutions for cryptocurrencies and blockchain applications, announced that it will provide its security solution to the National Digital Asset Exchange Inc. (NDAX). Based in Calgary, Alberta, NDAX is one of the largest Canadian exchanges providing individuals, corporations and institutions the opportunity to buy, sell, trade and store crypto assets in a fast, simple and secure manner.
Ledger Vault, an enterprise infrastructure technology platform, brings the security and trust that consumers have come to know from the company’s industry-leading and independently-certified Ledger hardware wallets. Vault is a multi-authorization governance infrastructure for the management of crypto assets that was specifically engineered with the needs of enterprise and institutional clients in mind.
NDAX clients will see a number of benefits under this new agreement with Ledger Vault:
- Customer private keys stored in isolation protected by an enhanced governance framework, reducing custodial risk
- Segregated crypto asset accounts with multi-signature technology
- Hardware Security Module (HSM) with true N-signature access, giving predetermined legal and accounting firms access as additional key holders in case of emergency
- Regulatory compliance
- Fully operational cold storage and liquidity management
"The recent QuadrigaCX scandal, during which some $190 million of customer funds vanished, was a major wake up call to cryptocurrency investors worldwide," said NDAX Founder and CEO, Bilal Hammoud. "Our partnership with Ledger Vault to provide custody for all of the crypto assets NDAX supports, including Bitcoin, Ethereum and XRP, will reinforce NDAX's mission to bring cryptocurrency mass adoption."
Proper technology and organization in exchanges is crucial to the diligent management of crypto assets.
"Secure storage of large digital asset funds is complex, and exchanges and institutions are looking for safe, comprehensive and integrated solutions," said Demetrios Skalkotos, Global Head of Ledger Vault. "By leveraging the Ledger Vault, NDAX will give investors total control of and instant access to their funds while giving them peace of mind that their assets are secure, without sacrificing convenience."
Funding and withdrawing Canadian and US dollars from your crypto trading account has never been easier. NDAX Canadian banking ensures client deposits stay in Canada in a segregated bank account and allows users to instantly fund their account in the most secure, efficient and compliant manner. Other key advantages include instant identity verification, an institutional-grade trading platform and compliance with applicable Canadian laws and regulations.
For more information about NDAX, please visit www.ndax.io.
About Ledger Vault
Ledger Vault is a core business unit of Ledger, a leader in security for cryptocurrencies and blockchain applications. Leveraging Ledger's industry-leading and independently-certified security technology, the Leger Vault provides information technology infrastructure for financial institutions to securely control their crypto assets with a multi-authorization self-custody management solution. With a global team of more than 200 professionals, Ledger develops a variety of products and services that safeguard crypto assets for individuals, companies and connected devices. Founded in 2014, the company has offices in Paris, New York, Hong Kong and San Francisco.
For more information about the Ledger Vault, please visit www.ledger.com/pages/ledger-vault.
SOURCE National Digital Asset Exchange Inc.
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