Paris-based cryptocurrency custody firm Ledger on Wednesday announced the launch of Ledger Enterprise Tradelink, which it describes as a secure and regulation-friendly trading system for institutional investors.
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- Ledger’s new platform aims to reduce third-party risk for users by allowing enterprise-level investors to create a customized interconnected network of custodians and exchanges, according to the press release.
- The company also said it would enable real-time tracking of collateral balances and operational status for all participants to enhance security and transparency.
- Distrust against centralized exchanges and custodians grew last year as executive members at Sam Bankman-Fried’s collapsed FTX exchange allegedly misappropriated user funds without proper disclosure.
- Ledger’s new platform has partnered with 20 exchanges and custodians, including Crypto.com, Laser Digital, Huobi and Uphold.
- “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,” said Sebastien Badault, vice president of enterprise revenue at Ledger, in the press release.
- Wall Street-backed non-custodial crypto exchange EDX Markets, which launched in the U.S. last week, also focuses on security of assets and regulatory compliance.
- Earlier this month, Blackrock, the world’s largest asset manager, officially filed for a spot Bitcoin exchange-traded fund. This event has been a leading factor in the recent surge of institutional interest in cryptocurrencies.
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