The hardware wallets manufacturer Ledger has provided the Canadian National Digital Asset Exchange (NDAX) with the blockchain solution Ledger Vault, which will allow you to safely store the digital assets of the clients of the site.
According to NDAX representatives, institutional investors are not in a hurry to invest in cryptocurrencies precisely because of the lack of reliable solutions for their storage.
The recent QuadrigaCX scandal, during which some $190 million of customer funds vanished, was a major wake up call to cryptocurrency investors worldwide. Our partnership with Ledger Vault to provide custody for all of the crypto assets NDAX supports, including Bitcoin, Ethereum and XRP, will reinforce NDAX's mission to bring cryptocurrency mass adoption.
Founder and CEO, NDAX
NDAX offers banks, hedge funds and family investment firms an infrastructure for managing cryptocurrency assets. In turn, the Ledger Vault technology provides multiple authorizations to ensure direct access to digital assets without compromising their security.
Secure storage of large digital asset funds is complex, and exchanges and institutions are looking for safe, comprehensive and integrated solutions. By leveraging the Ledger Vault, NDAX will give investors total control of and instant access to their funds while giving them peace of mind that their assets are secure, without sacrificing convenience.
Global Head, Ledger Vault
In addition, the Ledger Vault solution will provide customers with a number of advantages. In particular, the control of private keys will be carried out through segregated accounts, and the hardware security module will allow you to add additional key holders in case of an emergency.