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The Ledger company, manufacturer of hardware wallets for bitcoin (BTC) and other cryptocurrencies, will incorporate a new business unit specialized in institutional clients. Ledger Enterprise Solutions will provide training, as well as consulting and auditing services.
The objective of this new area of the company is “to help institutional clients address the implementation of technology, security and governance in their crypto-asset wallets. ”
The core of Enterprise Solutions will be Ledger Vault, a cryptocurrency custody service launched in 2018. Vault is characterized by “the use of hardware security modules and personal safety devices.”
“As more companies distribute significant portions of their balance sheets into holdings based on blockchain, we recognize the drastic need for enterprise-grade solutions to maintain and secure digital assets, ”said Jean-Michel Pailhon, Vice President of Business Solutions at Ledger.
For the development of this new business unit, Ledger, which already has around 50 pro Professionals in its ranks, will hire an additional 60 skilled workers during 2021. The company’s mission, as reported in a press release, is to “enable the crypto assets to become a multibillion dollar industry worldwide. ”
Ledger leverages corporate interest in bitcoin
As reported by CriptoNoticias, since 2020 a large number of institutional investors began to incorporate bitcoin as a reserve asset in their treasuries.
Gigantic corporations such as MicroStrategy, Tesla and Square join the list of companies that consider the cryptocurrency created by Satoshi Nakamoto to be a good store of value. Consequently, Ledger’s new business unit seeks to take advantage of corporate interest by offering services specially designed for these types of clients.
Among the companies that Ledger must compete with are firms specializing in custody technology, such as Anchorage, BitGo, Fireblocks and Curv. The latter was recently acquired by online payments giant PayPal.
Ledger continues to work on its hardware wallets
The creation of the Enterprise Solutions unit it will not detract from the products that Ledger produces for private users. The best known are the Ledger Nano S and Nano X wallets. These physical devices ( hardware wallets ) seek to provide greater security than wallets for computers or mobile devices. Like these, they allow the self-custody of the coins without the need for a trusted third party.
Thanks to the usual software updates, Ledger wallets constantly incorporate new cryptocurrencies and functionalities. One of the most recent, which was reported by this medium, is the possibility of storing and doing staking from Polkadot, directly from the device.