Ledger launched an institutional-grade trading network to meet the risk management and regulatory requirements of institutions.
On June 28, crypto custody company Ledger announced the launch of “Ledger Enterprise TradeLink”, a custodial trading network for institutions that aims to revolutionize this segment.
According to Ledger, the crypto wallet company has signed contracts with several partners to carry out its new project, which eliminates unnecessary complications in the crypto market that is under scrutiny by regulators. Crypto companies and partners that have signed on with Ledger include Bitstamp, Bitazza, CEX.io, Coinsquare, Crypto.com, Demex, Flowdesk, Huobi, Uphold, NDAX, Wintermute, and uHodler.
Ledger significantly improves the security and speed of transactions
The most important advantage of Ledger Enterprise TRADELINK is that it leverages end-to-end hardware security, providing 100% self-custody. This eliminates third party contact and allows for asset recovery in case of emergency. Furthermore, it reduces transaction time by up to 80% while optimizing trading strategies. The best part is that it does not charge any fee for the transactions done on the platform.
Sébastien Badault, VP Enterprise at Ledger, said in a Interview CoinDesk reported that the company’s new solution connects custodians, OTC brokers (off-exchange) and exchanges, eliminating regulatory risks that have plagued crypto companies in the US until recently.
Furthermore, the Ledger executive pointed out that the company is preparing to face an even more restrictive regulatory landscape in the crypto industry. Therefore, one way to mitigate operational risks is to align fund managers (individuals or companies that manage other people’s money) with multiple custody partners (entities responsible for the storage and security of crypto assets).
“Looking forward, there may be many more regulations regarding your ability to diversify your risk, so connecting fund managers with multiple custody partners will certainly be a huge advantage.”
US regulators vs crypto industry
Recently, the SEC sued two of the largest cryptocurrency exchanges in the United States, binance And coinbaseFor violating securities laws, which has caused fear among many investors due to the accessibility of both the exchanges.
However, institutional investors do not feel threatened by the US Securities and Exchange Commission (seconds, recently, black RockThe world’s largest asset manager has filed an application to register a bitcoin spot exchange-traded fund (ETF), restoring hopes for the fund to reapply for its ETF with the regulator.
The news of BlackRock’s bitcoin ETF has spurred new applications from several major funds such as WisdomTree, Invesco and others. ValkyrieWhich had previously received an emphatic “no” from the SEC.
Therefore, Ledger’s new enterprise trading network could provide a boost to institutional trading, despite the regulatory uncertainty induced by the SEC.
Marco is a passionate journalist with a deep addiction to cryptocurrencies and a keen interest in photography. He is interested in business and market analysis. He has 5+ years of experience working with cryptocurrency projects.
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