Crypto Custodian Legacy Trust Integrates Ledger’s Institutional-Grade Custody Solution

News | March 28, 2019 By:

Trust and custody company Legacy Trust has partnered with crypto wallet provider Ledger to integrate Ledger’s multi-authorization wallet management tool for digital assets.

Legacy Trust, a Hong Kong-licensed and public registered trust company, provides custody services to institutions, corporations and high net-worth individuals who may be required by law to custody their traditional and digital assets with an independent party like Legacy. The company offers custody services for exchanges, OTC desks, investment firms, hedge funds, and various other professional industry participants.

Founded in 2014, Ledger develops security and infrastructure solutions for cryptocurrencies as well as blockchain applications for individuals and companies, by leveraging a distinctive, proprietary technology. The company’s products include the Ledger hardware wallet line, which has already sold in nearly 170 countries.

Under the partnership, Legacy Trust will utilize Ledger Vault, an institutional-grade crypto custody solution, to securely and efficiently provide custody for major digital assets, such as bitcoin, with the added hardware security benefits. Ledger Vault will also enable Legacy Trust to start offering custody of ERC-20 tokens.

“The combination of Ledger’s technological versatility in safekeeping digital assets with Legacy Trust’s regulatory standing provides a complete and permanent solution to the issue of custody in the digital asset space, that did not exist until now,” said Vincent Chok, Group CEO of Legacy Trust. “This evolution of our digital asset custody services is a big step towards our goal to help drastically accelerate the flow of institutional money into digital assets and to help target the flow for the best trade-off between opportunity and risk.”

According to Ledger, Vault brings the security and trust that consumers have come to know from the company’s consumer offering, the Ledger hardware wallets, but has been specially engineered with the needs of enterprise and institutional clients in mind. Its multi-authorization rules give custodians the ability to create, authorize and broadcast transactions to the chain within seconds without multi-sig participants having to be in the same room.

“Secure storage of large digital asset funds is complex, and institutions are looking for safe, comprehensive and integrated storage solutions,” said Demetrios Skalkotos, Global Head of Ledger Vault. “This complimentary partnership with the Ledger Vault and Legacy Trust will ensure that investors have total control and peace of mind that their assets are secure, while not sacrificing convenience.”