Exchange will use advanced storage technology to augment custody of crypto assets
NEW YORK CITY – October 15, 2019 – Bitstamp, the world’s longest-standing cryptocurrency exchange and Europe’s largest by trade volume, today announced that it is integrating Ledger Vault’s technology to enable advanced custody options.
“Providing the ultimate level of security is our top priority and different types of customers have different requirements regarding storage. To provide the best possible service, we decided to integrate an additional secure crypto solution to custody digital assets,” said David Osojnik, Bitstamp CTO. “Ledger Vault’s state of the art tech will allow us to provide more options when it comes to the way assets are stored, without compromising security or performance.”
Ledger Vault will provide flexible wallet tech infrastructure that will allow Bitstamp to set up a sophisticated and very secure custody system with end-to-end hardware backed transfers and a strong multi-authorization governance model, ensuring there are no single points of failure and allowing better management of assets in storage.
“We are in 2019 and crypto assets still remain vulnerable in ways that other assets don’t. Forward-thinking exchanges like Bitstamp understand the importance of endpoint security to safely guard cryptocurrencies,” said Pascal Gauthier, Ledger CEO. “I am thrilled to see them adopt the Ledger Vault technology to securely store their digital assets. Our solution will provide Bitstamp with an unparalleled level of security and agility, ensuring peace of mind to their retail and institutional customers.”
As Bitstamp continues to grow and expand on a global scale, the company is constantly looking to add to its range of security solutions and processes. Ledger Vault technology will allow the exchange to take full advantage of the security potential of blockchain technology in order to provide unparalleled levels of service to even the most sophisticated customers, reinforcing Bitstamp’s reputation as the world’s most reliable cryptocurrency exchange.
Ledger provides a tech platform that allows Bitstamp to control 100% of its keys, providing the flexibility to manage the company’s liquidity instantaneously.
“Bitstamp approached us as they were seeking a solution to secure their crypto assets without compromising on liquidity. The Ledger Vault solution addresses their need thanks to a technology that combines hardware (Hardware Security Modules and Personal Security Devices) and software (segregation of duties, governance rules and workflows),” said Alexandre Lemarchand, vice president of global sales at Ledger. “The Vault not only provides Bitstamp with the asset security they needed, but also with a set of business processes to support their growing exchange.”
Bitstamp is the world’s longest-standing cryptocurrency exchange, continuously supporting the crypto economy since 2011. With a proven track record and mature approach to the industry, Bitstamp provides a secure and transparent trading venue to over four million individuals and enables a range of institutional partners to enter crypto markets through their time-proven infrastructure. Whether it’s through their intuitive web and mobile apps or arsenal of industry-leading APIs, Bitstamp is where crypto enters the world of finance.
For more information, visit bitstamp.net.
About Ledger Vault
Ledger Vault is a core business unit of Ledger, a leader in security for cryptocurrencies and blockchain applications. Leveraging Ledger’s industry-leading and independently-certified security technology, the Ledger Vault provides information technology infrastructure for financial institutions to securely control their crypto assets with a multi-authorization self-custody management solution. With a global team of more than 200 professionals, Ledger develops a variety of products and services that safeguard crypto assets for individuals, companies and connected devices. Founded in 2014, the company has offices in Paris, New York, Hong Kong and Vierzon.
For more information about the Ledger Vault, please visit www.ledger.com/vault.