Gemalto, Ledger Partner for Crypto Infrastructure

Blockchain, Innovation | October 4, 2017 By:

Digital security company Gemalto has teamed with blockchain firm Ledger to deliver high-assurance security infrastructure for crypto assets applications.

Gemalto is an international digital security company providing software applications, secure personal devices such as smart cards and tokens, and managed services. It is the world’s largest manufacturer of SIM cards. The company was founded in June 2006 when two companies, Axalto and Gemplus International, merged. It is listed on both Euronext Amsterdam and Euronext Paris under the symbol GTO.

Founded in 2015, Ledger is a startup building security solutions for bitcoin and blockchain applications. The company is leading the consumer market with its popular Ledger Nano S hardware wallet, and is currently developing enterprise solutions products based on Secure Elements and HSM technology. Ledger is headquartered in Paris and has offices in San Francisco.

Under the partnership, Ledger’s Blockchain Open Ledger Operating System (BOLOS) will be integrated into Gemalto’s SafeNet Hardware Security Module (HSM) to provide a secure environment for financial institutions looking to leverage cryptocurrency. The solution enables a variety of use cases, such as launching investable products on cryptocurrencies, or stocking cryptocurrencies securely.

Customers can customize account-based digital signature policies, heightening security requirements for user authentication of these transactions. The solution also builds in the ability to execute blockchain-based smart contracts, which are self-enforcing, self-executing digitally signed contracts.

The firms explained that compared with traditionally brokered transactions, a secure blockchain application for cryptocurrency trading simplifies a financial organization’s portfolio and contract management process by reducing costs and saving time.

Ledger CEO Eric Larchevêque said that, as the market value of blockchain based solutions rises, so does the need for bank grade security products, when financial institutions are looking for dedicated, certified solutions.

“We plan to leverage SafeNet HSM to provide our clients in the financial industry with a unique, secure product line customized to their needs,” Larchevêque said.

“With the proper security to protect communication, devices and users, blockchain can offer a trusted platform for parties that don’t have an existing relationship to do business efficiently and transparently,” said Todd Moore, Senior Vice President of Encryption Products at Gemalto. “Beyond the financial services market, we are also working with Ledger to embed BOLOS into any device’s secure element and bring high-assurance security to markets like smart energy applications, home automation or wearables.”