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Friday, July 19, 2024

Ledger Jumps Into Institutional Trading Tech Market With Tradelink’s Launch

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Prominent crypto wallet service provider Ledger has announced the launch of a new trading and settlement network technology dubbed Tradelink.

The new product offering is designed for asset managers, custodians, and exchanges/OTC with off-exchange trading capabilities and aims to eliminate unnecessary complexities while simultaneously boosting operational speed.

  • As per the company’s website, Tradelink enables trade on multiple exchanges without on-chain liquidity re-balancing, as well as retaining custodial ownership of assets with off-exchange trading.
  • Other benefits include allowing mitigation of trading collateral risks across multiple third-party platforms, easy integration with preferred counter-parties, streamlined operations, and zero-transaction fees, among others.
  • At launch, partners will include asset managers such as Laser Digital and Hodl Group, digital asset trading and orchestration platforms such as Wyden, OTC brokers/providers, and platform partners such as Crypto.com, Bitstamp, Huobi, Wintermute, Coinsquare, NDAX, etc., will be in early stage access to all Ledger Enterprise clients at no additional cost.
  • Following the development, Sebastien Badault, VP of Enterprise Revenue at Ledger,

“By unlocking better trading options for enterprises, we are empowering asset managers, custodians, and exchanges to navigate the changing landscape with confidence while making the whole ecosystem a safer and more transparent place.”

  • Ledger recently came under fire from its online user after releasing a controversial update that sparked concerns of major security flaws exposure by the manufacturer, which later issued a statement clarifying its decision to delay the launch.
  • The company secured a $109 Million Series C extension fundraising round, tapping $1.4 billion in valuation this year with two more to go.

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