Ledger Vault Selected To Protect Canadian Crypto Trading Platform VirgoCX

Hardware wallet security firm Ledger has announced that digital asset wallet management solution Ledger Vault has been selected to secure VirgoCX, a Canadian fiat-to-crypto trading platform for both retail and institutional clients.

Ledger Vault, a core business unit of Ledger, is an enterprise infrastructure technology platform that aims to bring the security and trust that the crypto community has come to know from the company’s hardware wallets. Vault is a multi-authorization, governance infrastructure, secure solution backed by a tailored crime insurance program for the management of crypto assets.

VirgoCX, which is registered with FINTRAC as a Money Service Business, will integrate Ledger Vault’s multi-authorization digital asset wallet management solution into its platform to increase the security of cryptocurrency holdings. Ledger Vault’s technology will reportedly enable VirgoCX to build out highly secure multi-signature governance rules while ensuring liquidity within the platform is maintained at an optimal level on a 24/7 basis. The solution creates a secure, flexible, and agile environment that enables the overflow of funds in, out, and within the exchange, allowing VirgoCX users to access their funds promptly.

“Ledger Vault prioritizes bringing the highest standards of security to our customers,” said Demetrios Skalkotos, Global Head of Ledger Vault. “With cryptocurrencies being an asset vulnerable to compromise, VirgoCX’s commitment to security alongside Ledger Vault’s technology allows for a seamless and secure trading experience giving investors the peace-of-mind that their digital assets are safe.”

VirgoCX said that its partnership with Ledger Vault will enable them to redefine cryptocurrency trading by providing cost-effective, multi-level security layers to protect personal data while maximizing liquidity for users. Additionally, VirgoCX’s users will have further peace-of-mind that their crypto assets are secure with Ledger Vault’s custom $150 million pooled crime insurance.

“We are thrilled to connect Ledger Vault’s sophisticated infrastructure to the VirgoCX platform as this collaboration furthers our mission to become the most trustworthy trading platform in Canada and globally,” said Adam Cai, Chief Executive Officer of VirgoCX. “Ledger Vault’s solution allows us to maintain full visibility and audibility over users’ activity, while providing an unparalleled level of security for the assets in motion.”