Ledger launched an institutional level trading network to meet the risk management and regulatory requirements of institutions.
On June 28, cryptocurrency custody company Ledger announced the launch of “Ledger Enterprise TRADELINK,” a custodial trading network for institutions that aims to revolutionize the sector.
According to Ledger, the crypto-wallet company has signed contracts with several partners to implement its new project, which eliminates unnecessary complexities in the cryptocurrency market that is under scrutiny from regulators. Cryptocurrency firms and partners signed with Ledger include Bitstamp, Bitazza, CEX.IO, Coinsquare, Crypto.com, Damex, Flowdesk, Huobi, Uphold, NDAX, Wintermute, and YouHodler.
The ledger greatly improves the security and speed of transactions
One of the main advantages of Ledger Enterprise TRADELINK is that it enhances the security of devices from end to end, providing 100% self-protection. This eliminates exposure to third parties and allows asset recovery in the event of an emergency. Moreover, it significantly reduces transaction times by 80%, which results in better trading strategies. The best part is that it does not charge anything for the transactions made on the platform.
Sebastien Badault, corporate vice president at Ledger, said in a statement interview With Coindesk, the company’s new solution connects custodians, OTC (over-the-counter) brokers, and exchanges, eliminating regulatory risks that have recently wreaked havoc on cryptocurrency companies in the United States.
Moreover, CEO Ledger indicated that the company is preparing to face a more restrictive regulatory scenario in the crypto industry. Therefore, one way to mitigate operational risk is to align fund managers (individuals or companies that manage other people’s money) with multiple custodial partners (entities responsible for storing and protecting crypto assets).
“Looking forward, there may be many regulations regarding the ability to allocate your risk, so aligning fund managers with multiple custodial partners will certainly be a major advantage.”
US regulators versus the crypto industry
Recently, the Securities and Exchange Commission (SEC) sued the two largest cryptocurrency exchanges in the United States, Binance and Coinbase, for violating securities laws, which sparked fear among many investors due to the arrival of both exchanges.
However, institutional investors do not feel threatened by the US Securities and Exchange Commission (SEC). Recently, BlackRock, the world’s largest asset manager, filed for registration of a Bitcoin spot exchange-traded fund (ETF), bringing hope of re-filing funds for its ETFs with the regulator.
The news of BlackRock’s Bitcoin ETF has sparked new applications from several major funds, such as WisdomTree, Invesco and Valkyrie, which had previously received a resounding “no” from the SEC.
Therefore, Ledger’s new institutional trading network can boost institutional trading, despite the regulatory uncertainty urged by the SEC.
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Marco is a passionate journalist with a deep addiction to cryptocurrency and a keen interest in photography. He is fascinated by trading and market analysis. He has more than 5 years of experience working with cryptocurrency projects.