Ledger recently announced through a press release its expansion to Hong Kong to fulfill the demand for security solutions for cryptoassets. Founded in 2014, the crypto hardware wallet maker owns the Blockchain Open Ledger Operating System (BOLOS), a custom operating system that protects private keys a trader uses while using embedded third-party applications. Ledger’s BOLOS either integrates into a secure chip or to a Hardware Security Module (HSM) for a range of enterprise solutions.
Ledger to offer safer storage with security solutions for cryptoassets
The move proves that the French company wants to expand its base into the Chinese blockchain and crypto market. Benjamin Soong, the Head of Ledger Asia Pacific will run the company’s new branch in Hong Kong. During an interview, Soong stated that blockchain technology is rapidly evolving the financial system which makes it critical for the institutions and investors to adopt security solutions.
According to Soong, the company must fully equip the solutions to face the risks associated with the adoption. The head of the Hong Kong branch of Ledger said that securing the storage of huge multi-virtual currency funds is an extremely complex task which is impossible to resolve simply by implementing procedures. Soong said, “Institutions are looking for safer storage options along with integrated governance policies, but don’t want to sacrifice operational efficiency — with our technology, investors don’t have to compromise.” He also discussed Asia Pacific plans.
Soong says it is right time to join Ledger
Soong stated that it is an exciting time for him to join the French crypto hardware wallet maker as Ledger is now expanding rapidly across the world. Soong added that he first experienced how mobile, digital and later on crypto took off across the Asian continent. Soong believes that opening an office in Hong Kong will help the company to meet the increased demand for its security products and services.
Ledger Vault from the company is one of the security solutions for cryptoassets that offers tailor-made options to institutions for safeguarding their respective crypto holdings. The cryptocurrency wallet management solution integrates with BOLOS for crypto-asset protection.
