Hassan Maishera
Ledger opens Swiss and UK offices
Institution-focused cryptocurrency custody provider Ledger Enterprise Solutions has revealed that it has opened offices in the United Kingdom and Switzerland. The company wants to boost its corporate presence globally.
Ledger, with its headquarters in Paris, is popular for its Nano storage device designed for retail users. The company is now opening offices in Zurich, Geneva and London. The new offices will complement Ledger’s existing offices in New York and Singapore.
Ledger CEO Pascal Gauthier, in an interview, said, “If you think about the technology companies that are offering custody technology, most of LedgerVault’s competitors are in Switzerland. If you look at Swiss banks, they understand custody and cybersecurity better than your average financial institution, and Switzerland is very advanced compared to other places.”
Switzerland is an excellent choice for the company due to the country’s history of safekeeping assets and the clear cryptocurrency regulation. The United Kingdom is also one of the leading cryptocurrency nations in the world. Hence, opening an office there could help boost its presence in the country.
Komianu is an institutional crypto custody consortium and one of Ledger’s partners alongside Japanese bank Nomura and digital asset trading firm CoinShares. Gauthier pointed out that Ledger Enterprise Solutions and Komianu are focused on two different use cases.
The Ledger CEO added that “If a bank comes to LedgerVault, it’s because they have decided to do custody themselves, and it becomes an on-balance sheet thing for them. So on the one side, you do the custody yourself; on the other side, you delegate custody to Komianu.”
The cryptocurrency market has experienced massive growth over the past few months. The industry is now worth over $2.5 trillion, and crypto entities have been expanding their products and services.
