Ledger’s Expansion Into the World of Institutional Crypto Trading
Ledger, one of the leading crypto hardware wallet brands, is known for offering a safe way to store crypto coins for individual users. However, the French company is now venturing into the institutional crypto trading market with the introduction of Tradelink.
Heading 1: Ledger Tradelink
- Introduction to Tradelink
- Partners and Support
- Features and Benefits
- Addressing Third-Party Risk
- Efficient Global Communication
Ledger’s recent blog post announced that Tradelink is the first open network that enables trade through exchange and custodial partners. This enterprise-grade platform aims to provide custody, protection, and flexibility for institutional digital asset trading.
Introduction to Tradelink
Tradelink is a platform designed to cater to institutional investors and traders in the crypto market. It offers distinctive features for enhanced security, transparency, risk sharing, and efficient trading. The platform facilitates off-exchange trading without transaction fees.
Partners and Support
Tradelink has garnered support from various partners, including well-known crypto exchanges like Crypto.com, Bitstamp, Huobi, and CEX.IO. Regulated custodians such as Komainu, TetraTRust, and Etana are also part of the open network. This wide range of partners ensures a robust ecosystem for trading institutional digital assets.
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Features and Benefits
Tradelink offers multiple features aimed at enhancing the trading experience for institutional investors. It provides a secure and transparent environment for trading activities. The platform’s risk-sharing mechanism helps mitigate potential losses. Additionally, Tradelink boasts faster and more efficient trading, without any transaction fees.
Addressing Third-Party Risk
Ledger recognizes the increasing demand for reducing exposure to third-party risk, especially in light of recent industry setbacks like the FTX incident. Tradelink tackles this concern by ensuring that businesses can communicate with a global network of custodians and exchanges without worrying about legal requirements. This feature provides added confidence for institutional investors.
Efficient Global Communication
Tradelink acts as a bridge, allowing seamless communication between businesses and the network of custodians and exchanges. With the removal of legal complexities, institutional investors can benefit from the platform’s efficient and secure global communication capabilities.
Heading 2: Controversial crypto wallet update
- Introduction to Ledger Recovery
- Community Criticism and Response
- Launch of the Whitepaper
- Roadmap and Expected Launch
Aside from its expansion into institutional crypto trading, Ledger attracted attention recently due to the controversial launch of a service called “Ledger Recovery.” This optional subscription service allows users to back up their seed phrases.
Introduction to Ledger Recovery
Ledger Recovery is a service designed to provide users with a means to back up their seed phrases, thereby enhancing the security and recoverability of their crypto assets. While this may sound beneficial, the service faced significant criticism from the crypto community.
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Community Criticism and Response
Following the announcement of Ledger Recovery, the company faced backlash from the crypto community. Many users expressed concerns about the potential risks associated with storing seed phrases on Ledger’s servers. In response, Ledger decided to postpone the service and work towards an open-source implementation.
Launch of the Whitepaper
The release of a 34-page whitepaper marks the second phase of Ledger’s roadmap for the Ledger Recovery service. This document outlines the technical details and implementation plans for the service. By sharing this information, Ledger aims to address community concerns and increase transparency.
Roadmap and Expected Launch
The whitepaper serves as a preview of the roadmap, with the Ledger Recovery service expected to launch in the fourth quarter of this year. The service aims to provide an additional layer of security and peace of mind for Ledger users.
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In conclusion, Ledger’s entry into the institutional crypto trading market with Tradelink showcases the company’s ambition to expand its offerings and cater to a wider range of users. Additionally, the controversial launch of Ledger Recovery reflects the company’s dedication to improving user security and transparency. These developments highlight Ledger’s commitment to evolving with the crypto industry and meeting the diverse needs of its users.