Ledger will soon be hiring and training 60 more employees to generate a new business unit. The core of ‘Enterprise Solutions’ will be the already existing Ledger Vault custody service.
The Ledger Company, a manufacturer of hardware wallets for Bitcoin (BTC) and other cryptocurrencies, will create from scratch a new business unit specialized in institutional clients. Ledger Enterprise Solutions will provide training, as well as consulting and auditing services.
As a company, this new area’s goal is “to help institutional clients address the implementation of technology, security, and governance in their crypto-asset wallets.”
The core of Enterprise Solutions will be Ledger Vault, a cryptocurrency custody service launched in 2018. Among the vault features, users can find “the use of hardware security modules and personal security devices.”
“We recognize the drastic need for enterprise-grade solutions to maintain and secure digital assets,” said The Vice President of Business Solutions at Ledger.
For this new business unit’s development, Ledger, which already counts on at least 50 professionals in its ranks, will hire another 60 qualified workers during 2021. As reported in a press release, it is to “enable for the crypto industry to become a multi-billion dollar industry globally. ‘
Ledger Seizes Corporate Interest in Bitcoin
Since 2020, many institutional investors began to incorporate bitcoin as a reserve asset in their treasuries.
Gigantic corporations such as MicroStrategy, Tesla, and Square join the list of companies that consider the cryptocurrency created by Satoshi Nakamoto to be a good store of value. As a result, Ledger’s new business unit seeks to leverage corporate interest by offering specially tailored services for these types of customers.
Among the companies, Ledger currently competes with firms specializing in custody technology, such as Anchorage, BitGo, Fireblocks, and Curv. The latter is now the acquisition of the online payments giant PayPal.
Ledger Keeps Working on its Hardware Wallets
The creation of the Enterprise Solutions unit will not play down the products that Ledger creates for its private users. The best known are the Ledger Nano S and Nano X wallets. These physical devices (hardware wallets) seek greater security than wallets for computers or mobile devices. Like these, they allow the self-custody of the coins without the need for a trusted third party.
Thanks to regular software updates, Ledger wallets constantly add new cryptocurrencies and features. One of the most recent is the possibility of storing and staking Polkadot directly from the device.
Ledger’s hardware wallets are multicurrency tools that serve as storage and private keys for cryptocurrencies. These tools also help to lead transactions using cryptocurrencies and with the use of cryptographic private keys.
Cryptocurrency users have developed alternative systems to store their values. These include hot wallets (which are online), mobile wallets (wallets in smartphones), and even paper wallets (stored on paper).
Hardware wallets are another way to store values offline. A hardware wallet is a cryptocurrency wallet that saves the user’s private keys (a critical piece of information used to authorize outgoing transactions on the blockchain network) in a secure hardware device.
By: Jenson Nuñez
