The international digital security titan Gemalto and crypto hardware wallet company Ledger are teaming up to develop new, enterprise-grade cryptocurrency storage vaults that will be custom-tailored for large businesses and heavyweight investors.
For security hawks, this collaboration is a match made in heaven. For banks and “whale” investors, it’s a partnership that will lead to the next generation of cryptocurrency security solutions.
Ledger, creator of the popular Ledger Nano S and Ledger Blue hardware wallets, will be contributing its revolutionary BOLOS operating system to the new “vault” device, while Gemalto is pitching in its HSM cryptographic key storage system.
The result will be a business-grade crypto vault that’s also capable of running applications, facilitating large-scale cryptocurrency trading, and performing smart contracts.
For Ledger CEO Eric Larcheveque, the initiative is all about making Big Business feel comfortable operating within the brave new world of crypto.
“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,” Larcheveque declared in a press release.
Gemalto and Ledger bet on Blockchain for security of Cryptocurrency – https://t.co/PxJrsiHeC9
— Steven Krohn (@stevekrohn) October 6, 2017
Indeed, if it’s easier for large financial institutions and big investors to reliably keep and store large amounts of cryptocurrency themselves, then these same players can and will make bigger investments in the market, generating upward pressure on crypto prices in general.
And the fact that these devices can execute smart contracts will make them extremely versatile and all the more attractive for companies looking to get involved in cryptocurrencies.
TLDR: Security powerhouses Gemalto and Ledger are teaming up to create crypto vaults for businesses, paving the way for institutional money to flood into the market like never before.