Crypto hardware wallet manufacturer Ledger announced it is expanding to New York as part of its development of institutional custody offering Ledger Vault

Ledger, a global leader in securing crypto assets, announced on Monday it has expanded its U.S. presence to New York City and appointed Demetrios Skalkotos to lead global business unit operations for Ledger Vault, which will be headquartered from the new office.

Founded in 2014, Ledger describes itself as a leader in security and infrastructure solutions for cryptocurrencies and blockchain applications. The company, which is headquartered in Paris, has a team of 150 who are developing a variety of products and services to safeguard cryptocurrency assets for individuals and companies. This includes the Ledger hardware wallet line, which has already sold in nearly 170 countries. Speaking about the New York expansion, Pascal Gauthier, President of Ledger, stated:

New York City is the center of the financial world, hence having our Ledger Vault operations based in the region was a natural fit. Having spent his whole career working as a leader in enterprise and financial services products, Demetrios Skalkotos is the perfect candidate to bring Ledger Vault to life and oversee its continued growth.”

Also sharing details about Ledger Vault, Ledger reported that the multi-authorization cryptocurrency self-custody management solution provides state-of-the-art-security by integrating the company’s custom operating system, BOLOS, directly into the hardware security module chip — making it the only crypto-asset protection company to combine a secure chip with its own custom operating system. While discussing his new role at Ledger, Skalkotos revealed:

“As Blockchain revolutionizes the financial system, so must the security solutions that protect it. Secure storage of large multi-cryptocurrency funds is a highly complex challenge that cannot be solved by just implementing procedures. Institutions are looking for safer storage options along with integrated governance policies, but don’t want to sacrifice convenience — at Ledger, we believe that investors shouldn’t have to compromise. Ledger Vault provides financial institutions, family offices and fund managers with secure software and a reliable governance framework — allowing investors total control and security without sacrificing speed.”

Skalkotos went on to add:

“As crypto becomes more widely adopted, it is critical that we scale enterprise-level solutions accordingly. The Ledger Vault does just that — we are the necessary digital plumbing that will provide security custody management to the industry.”

Also read: French stock market regulator has jointly issued a warning with the country’s central bank and French Prudential Supervision and Resolution Authority recalling the risks associated with “speculative” crypto assets

Source: https://www.crowdfundinsider.com/2018/11/141682-ledger-announces-expansion-to-new-york-city-appoints-demetrios-skalkotos-as-global-head-of-ledger-vault/