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Fast-growing Canadian exchange is among the first to adopt advanced security solution
TORONTO, May 11, 2020 (GLOBE NEWSWIRE) — Ledger, the global leader in security and infrastructure solutions for critical digital assets and blockchain applications, has announced that Ledger Vault, the multi-authorization digital asset wallet management solution, has been chosen to secure VirgoCX, a Canadian fiat-to-crypto trading platform for both retail and institutional clients.
VirgoCX, which is registered with FINTRAC as a Money Service Business, will integrate Ledger Vault’s state-of-the-art digital asset management system into its high-performance platform to increase the security of cryptocurrency holdings. Ledger Vault will provide the security infrastructure to protect VirgoCX digital assets for retail and institutional clients as the ecosystem expands and VirgoCX continues growing its footprint in Canada and worldwide.
The integration of Ledger Vault will help VirgoCX adjust its business operations to address the increased concern for the safekeeping of cryptocurrency assets from within the industry. Unlike traditional custodial solutions, Ledger Vault’s technology enables platforms to build out highly secure multi-signature governance rules while ensuring liquidity within the platform is maintained at an optimal level on a 24/7 basis. The platform creates a secure, flexible, and agile environment that enables the overflow of funds in, out, and within the exchange, allowing VirgoCX users to access their funds promptly.
As the fastest growing Canadian exchange with thousands of active traders within Canada VirgoCX seeks to redefine cryptocurrency trading by providing cost-effective, multi-level security layers to protect personal data while maximizing liquidity for users. Additionally, VirgoCX’s users will have further peace-of-mind that their crypto assets are secure with Ledger Vault’s custom $150M pooled crime insurance.
“We are thrilled to connect Ledger Vault’s sophisticated infrastructure to the VirgoCX platform as this collaboration furthers our mission to become the most trustworthy trading platform in Canada and globally,” said Adam Cai, Chief Executive Officer of VirgoCX. “Ledger Vault’s solution allows us to maintain full visibility and audibility over users’ activity, while providing an unparalleled level of security for the assets in motion”.
“Ledger Vault prioritizes bringing the highest standards of security to our customers,” said Demetrios Skalkotos, Global Head of Ledger Vault. “With cryptocurrencies being an asset vulnerable to compromise, VirgoCX’s commitment to security alongside Ledger Vault’s technology allows for a seamless and secure trading experience giving investors the peace-of-mind that their digital assets are safe.”
Ledger Vault, an enterprise infrastructure technology platform, brings the security and trust that the crypto community has come to know from the company’s industry-leading and independently-certified hardware wallets. Vault is a multi-authorization, governance infrastructure, secure solution backed by a tailored crime insurance program for the management of crypto assets that was specifically engineered with the needs of clients like VirgoCX in mind.
About Ledger Vault
Ledger Vault is a core business unit of Ledger, a leader in security for cryptocurrencies and blockchain applications. Leveraging Ledger’s industry-leading and independently-certified security technology, the Ledger Vault provides information technology infrastructure for financial institutions to securely control their crypto assets with a multi-authorization self-custody management solution. With a global team of more than 200 professionals, Ledger develops a variety of products and services that safeguard crypto assets for individuals, companies and connected devices. Founded in 2014, the company has offices in Paris, New York, Hong Kong and Vierzon.
For more information about the Ledger Vault, please visit www.ledger.com/vault.
VirgoCX is a Canadian-based fiat-to-crypto trading platform. As a FINTRAC-registered MSB, retail and institutional clients can exchange fiat currency and cryptocurrency in a regulated environment. By offering a best-in-class trading experience, retail and institutional investors can rely on competitive pricing, liquidity, and institutional grade-custodianship. VirgoCX’s long-term goal is to become the world’s leading cryptocurrency and global stablecoin trading centre. For non-Canadian residents, VirgoCX plans to launch their global platform in Q2-2020.
For more information, visit https://virgocx.ca
Anastasia Golovina, Ditto PR