Ledger Provides Secure Portfolio Management Solution to Regulated Canadian Crypto Exchange

The French hardware portfolio manufacturer, Ledger, is in the process of providing its secure cryptographic infrastructure solution to the regulated Canadian National Digital Asset Exchange (NDAX), according to a press release issued on April 29 by Cointelegraph.

NDAX – which offers cryptographic badet trading services to both retail and institutional clients – will use Ledger's institutional-level portfolio management solution, called Ledger Vault.

Ledger Vault provides a multi-authorization governance infrastructure for encryption badets and has been designed to meet the needs of corporate and institutional depositories and badet managers, according to the press release.

The solution's governance framework would allow users' private keys to be stored in isolation in order to reduce security risks, while offering separate encryption badet accounts protected by a multi-signature technology.

Its security offerings also include a hardware security module (HSM) with N-signature support, which can grant emergency key access to pre-authorized law and accounting firms.

The press release notes that Ledger Vault is designed to provide fully operational cold storage and cash management, as well as to help customers comply with regulatory requirements.

In his statement, NDAX founder and CEO Bilal Hammoud explicitly referred to the loss of customer funds during this year's high-profile QuadrigaCX incident, which heightened awareness of the need for secure and reliable solutions for user encryption badets.

Ledger Vault would be expected to be used for all cryptographic badets supported by the switch, including bitcoins (BTC), ether (ETH), and XRP.

As noted earlier, Ledger joined forces with Hong Kong Trust Company Legacy Trust in March to develop Ledger Vault and provide solution-based institutional-level cryptographic custody services.

In March, Cointelegraph announced that the Swissquote Swiss banking group will offer cryptographic custody services after trading five major cryptocurrencies since 2017.