Cryptocurrency and payments platform Crypto.com announced this Thursday that it has joined forces with Ledger, a big player in security and infrastructure solutions for crypto and blockchain, to provide its institutional-grade custody solution.
Ledger Vault, the core business unit of Ledger, is a crypto wallet management solution that requires multiple authorisations. Through the partnership, Crypto.com will use Ledger Vault to manage its own funds as well as its clients’ digital assets.
Because Ledger Vault has multi-authorisation rules, the custodian of the wallet is able to create, authorise and broadcast transactions to the chain. This can be done without needing multi-signature participants in the same room.
According to the statement, by doing this, custodianship becomes a process that can be scaled in a fast-moving global market, whilst still being protected against threats to cryptocurrency – such as hacking, human error, etc.
Source: LinkedIn
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Source: LinkedIn
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