On Monday 26th November 2018, ledger made an official press release about opening a regional New York City office. The French-based fintech Blockchain company is looking to bring its Cryptocurrency custody solution for custodians and asset managers which is the Ledger Vault closer to the main market. The Crypto hardware maker is among the leading providers of hack-proof wallets that have been touted to be the best in the Crypto spheres.
Ledger was established in 2014 and it has been marketing itself as a growing and fast-paced company that develops infrastructure and security solutions for Blockchain applications and, most importantly, Cryptocurrencies. It targets institutions, as well as individual investors by assuring to proffer proprietary and distinctive technology to leverage on the benefits of hardware Crypto storage solutions.
The operating system that Ledger employs is a known as BOLOS that Ledger integrates to its Hardware Security Module (HSM) or its Ledger wallet line’s secure chip. This model then creates a fool-proof, bank security-like, and unbreachable hardware wallet for storing risky Cryptocurrencies.
Ledger provides two classes of hardware wallets where each category is specifically designed for the needs of its end users. For instance, the touchscreen Ledger Blue and the light Ledger Nano S are meant for use by retail/individual investors. The two versions can support 23 Cryptos in addition to many more via plugins and third-party apps.
On the side of enterprises and institutional investors, there is the Ledger Vault version of a hardware wallet. It is unique to the retail versions since it has multi-authorization features that can support management solutions for multiple clients within an account. As a management-oriented hardware wallet, edger Vault is ideal for Custodians and Digital Asset managers who need a zero compromise on security as well as ultimate convenience.
Ledger Is Widening Its Coverage In North America
Ledger is looking to unveil the New York Office to supplement the work that the San Francisco based office is already handling in the USA. This would give the company a far-reaching presence in the US.
Meanwhile, Demetrios Skalkotos will be the new manager for Worldwide Business Operations where he will be reporting to the President of Ledger, Pascal Gauthier.
More information from a LinkedIn page shows that Demetrios will have important responsibilities such as leading beta launches for early stages of better rollouts as well as developing Ledger and marketing it to high-net-worth Crypto Asset owners.
Ledger Recognizes New York As The Global Financial Center
The World Bank data shows that New York is the richest city in the world with a GDP of more than $2 Trillion closely followed by other cities such as Los Angeles, Hong Kong, Seoul, London, Paris, Singapore, Berlin, Tokyo, etc. For this reason, Pascal Gauthier believes that the New York office is a “natural fit” in an underserved region.
Earlier, in 30th October this year, Ledger opened a new office in Hong Kong in response to an increasing demand for all its products. Additionally, in November 2018, the Hong Kong government passed a law that requires all Cryptos to be secured with third-party custodians that Ledger is targeting.