Cryptocurrency Security Leader Onboards Canadian Financial Institution onto Ledger Vault Platform, NDAX Adds Support for Cardano with Zero Fees
CALGARY , April 29, 2019 /CNW/ - Today the National Digital Asset Exchange Inc. (NDAX), a leading Canadian cryptocurrency exchange, announced its official partnership with Ledger, a global leader in security and infrastructure solutions for cryptocurrencies and blockchain applications, to launch a trusted, reliable and flexible custody solution for the Canadian digital asset space. A key factor which is preventing institutions from getting involved in cryptocurrency is the lack of credible custody solutions, resulting in billions of dollars of institutional money to sit on the sidelines. The integration of the NDAX's institutional-grade trading platform with Ledger Vault, a state-of-the art crypto security technology, will bring the security and trust that consumers have come to know from traditional banks.
NDAX's newly launched custody offering provides information technology infrastructure for financial institutions to securely control their crypto assets with a multi-authorization self-custody management solution. By leveraging Ledger's industry-leading and independently-certified security technology, NDAX is moving the crypto industry forward by providing family offices, hedge funds and financial institutions the ability to gain direct exposure to digital assets with zero compromise on security.
"The recent QuadrigaCX scandal, during which some $190 million of customer funds vanished, was a major wake up call to cryptocurrency investors worldwide," said NDAX Founder and CEO, Bilal Hammoud . "Our relationship with Ledger Vault for NDAX to provide custody for all crypto assets it supports, including Bitcoin, Ethereum and XRP, will reinforce NDAX's mission to bring cryptocurrency mass adoption."
"Secure storage of large digital asset funds is complex, and exchanges and institutions are looking for safe, comprehensive and integrated solutions," said Demetrios Skalkotos , Global Head of Ledger Vault. "By leveraging the Ledger Vault, NDAX will give investors total control of and instant access to their funds while giving them peace of mind that their assets are secure, with sacrificing convenience."
NDAX clients will see a number of benefits under this new agreement with Ledger Vault:
- Segregated crypto asset accounts with multi-signature technology – allowing institutions to own control of their private keys
- Customer private keys stored in isolation protected by an enhanced governance framework, reducing custodial risk
- Hardware Security Module (HSM) with true N-signature access, giving predetermined legal and accounting firms access as additional key holders in case of emergency
- Fully operational cold storage and liquidity management
- The ideal solution for Fund Managers requiring institutional-grade security, convenience and streamlined operations
NDAX Announces Listing of Cardano (ADA) with Zero Fees
On Thursday, April 18 th, NDAX pleasantly surprised the Canadian community with the addition of yet another CAD-based trading pair: ADA/CAD. NDAX is the first exchange to make Cardano's native asset ADA available to trade directly with Canadian dollars, and it is the eighth cryptocurrency listed on the exchange. With the addition of ADA, crypto enthusiasts across Canada can now trade the newly listed coin in a fast, safe and affordable manner, with zero trading and withdrawal fees on ADA until May 31 st, 2019. Funding your account with fiat or cryptocurrency is always free.
Similar to the Ethereum blockchain, Cardano is a smart contract platform that is focused on building a secure, flexible and scalable blockchain for use by millions of users across the world. Rather than completely overhauling the entire financial system, Cardano's objective is to bring greater financial inclusion on a global scale and usher banking services to the developing world.
Other coins listed on NDAX include: Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Litecoin (LTC), Stellar (XLM), EOS (EOS), and Dogecoin (DOGE).
Funding and withdrawing Canadian and US dollars from your crypto trading account has never been easier. NDAX Canadian banking ensures client deposits stay in Canada in a segregated bank account and allows users to instantly fund their account in the most secure, efficient and compliant manner. Other key advantages include instant identity verification, an institutional-grade trading platform and compliance with FINTRAC as a regulated money services business (MSB).
For more information about NDAX, please visit www.ndax.io.
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 Leger 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 San Francisco .
For more information about the Ledger Vault, please visit www.ledger.com/pages/ledger-vault.
SOURCE National Digital Asset Exchange Inc.
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