The largest crypto exchange by volume in Europe, Bitstamp, has recently announced that it would integrate the technology of Ledger Vault to its services. This, the company affirmed, would help it to offer advanced custody services for its clients.
HARDWARE: We will be integrating @Ledger Vault tech to set up a robust custody system with end-to-end hardware backed transfers for the crypto assets stored at Bitstamp: https://t.co/BrOPdKJ1wL 🛡️ pic.twitter.com/H8RdrKsEa6
— Bitstamp (@Bitstamp) October 15, 2019
Ledger Vault would provide Bitstamp with a more flexible wallet structure and it would set up a custody system for the company. With the partnership, Bistamp would be able to create end-to-end hardware-backed transfers and allow its clients to use multi-authorization governance models. This would be important because it would allow the exchange to upgrade its storage systems and options.
David Osojnik, the CTO of Bitstamp, affirmed that the main priority of the company regarding the subject is to offer the ultimate level of security so that the clients will know that their funds are safe. According to him, Ledger Vault is the perfect company to provide that.
The agreement states that Bitstamp will always have full control over the private keys of the wallets, which means that it will have 100% control over the wallets.
Ledger’s CEO Pascal Gauthier affirmed that crypto assets are more vulnerable than other types because they are fully digital. Because of this, the company develops solutions that can help companies that want to take the next step when it comes to the security of these assets.
Pascal defined himself as “thrilled” to see Bitstamp adopting the Ledger Vault technology and he believes that this will certainly enhance the agility and the security of the funds, which will translate into growing the confidence and the trust that the clients have in the company’s care for their digital assets.
Like what you read? Give us one like or share it to your friends