Leading Canadian Cryptocurrency Exchange NDAX Now Backed By Ledger Vault
NEW YORK:
Today Ledger, a global leader in security and infrastructure solutions for cryptocurrencies and blockchain applications, announced that it will provide its security solution to the National Digital Asset Exchange Inc. (NDAX).
Based in Calgary, Alberta, NDAX is one of the largest Canadian exchanges providing individuals, corporations and institutions the opportunity to buy, sell, trade and store crypto assets in a fast, simple and secure manner.
Ledger Vault, an enterprise infrastructure technology platform, brings the security and trust that consumers have come to know from the company's industry-leading and independently-certified Ledger hardware wallets. Vault is a multi-authorization governance infrastructure for the management of crypto assets that was specifically engineered with the needs of enterprise and institutional clients in mind.
NDAX clients will see a number of benefits under this new agreement with Ledger Vault
Customer private keys stored in isolation protected by an enhanced governance framework, reducing custodial risk
Segregated crypto asset accounts with multi-signature technology
Hardware Security Module (HSM) with true N-signature access, giving predetermined legal and accounting firms access as additional key holders in case of emergency
Regulatory compliance
Fully operational cold storage and liquidity management
The recent QuadrigaCX scandal, during which some $190 million of customer funds vanished, was a major wake up call to cryptocurrency investors worldwide, said NDAX Founder and CEO, Bilal Hammoud. 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.
Proper technology and organization in exchanges is crucial to the diligent management of crypto assets.
Secure storage of large digital asset funds is complex, and exchanges and institutions are looking for safe, comprehensive and integrated solutions, said Demetrios Skalkotos, Global Head of Ledger Vault. 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.
Ledger Vault, an enterprise infrastructure technology platform, brings the security and trust that consumers have come to know from the company's industry-leading and independently-certified Ledger hardware wallets. Vault is a multi-authorization governance infrastructure for the management of crypto assets that was specifically engineered with the needs of enterprise and institutional clients in mind.
NDAX clients will see a number of benefits under this new agreement with Ledger Vault
Customer private keys stored in isolation protected by an enhanced governance framework, reducing custodial risk
Segregated crypto asset accounts with multi-signature technology
Hardware Security Module (HSM) with true N-signature access, giving predetermined legal and accounting firms access as additional key holders in case of emergency
Regulatory compliance
Fully operational cold storage and liquidity management
The recent QuadrigaCX scandal, during which some $190 million of customer funds vanished, was a major wake up call to cryptocurrency investors worldwide, said NDAX Founder and CEO, Bilal Hammoud. 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.
Proper technology and organization in exchanges is crucial to the diligent management of crypto assets.
Secure storage of large digital asset funds is complex, and exchanges and institutions are looking for safe, comprehensive and integrated solutions, said Demetrios Skalkotos, Global Head of Ledger Vault. 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.