Ledger Launches Special Division For Enterprises
- Ledger Enterprise Solutions will provide custody and consulting services to businesses and enterprises.
- The hardware wallet manufacturer is banking on increased demand for crypto from institutions.
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According to the company’s press release, Ledger Enterprise Solutions will focus on enhancing enterprise adoption of Ledger Vault, the firm’s core custody technology platform. The new business unit will be led by Ledger’s vice president of business solutions, Jean-Michel Pailhon.
“As more companies apportion significant parts of their balance sheets to blockchain-based holdings, we recognize the drastic need for enterprise-grade solutions for holding and securing digital assets,” he said in the release. “Our mission is to enable the digital assets industry to become a multi-trillion dollar industry.”
At launch, the Ledger Enterprise Solutions offering will include Ledger Vault and Ledger Consulting Services. The latter is a personalized consultation service that will guide institutions through cryptocurrency implementation, external audit, and custom advisory and training services. The new unit already has a significant number of clients, which include Crypto.com, UpHold, Bank Frick, BitStamp, Nexo, and Komainu.
- Ledger faced backlash from the crypto community last week after announcing its Ledger Recover service, which will allow users to restore their private keys.
- The company has now said that it will delay the launch of Recover until it has open-sourced some core components of its OS and Recover codebase.
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- Unnamed sources have said that the company is currently in talks with interested parties to raise at least $100 million in a new funding round.
- The same people noted that Ledger had experienced growth in its business over the past months, as investors turn to cold storage.
- The so called Visa Crypto Life card will be launched in the U.K., Germany, and France in Q1 of 2022, while the U.S. release is scheduled for Q2.
- Ledger also partnered with FTX, giving its Ledger Live users access to the exchange’s liquidity, leverage, and trading options.