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Ledger, Neufund Partnership Latest in Security Token Management Developments

Ledger, Neufund Partnership Latest in Security Token Management Developments

In a press release yesterday, cryptocurrency hardware wallet provider Ledger announced a partnership with blockchain-based equity fundraising platform Neufund to allow users to manage their security tokens on the Ledger desktop app.

The collaboration between Ledger and Neufund will foster a framework developed for securitized tokens, “allowing users to manage real-world assets on the blockchain while creating the safest user-experience for investors”.

Ledger CEO Eric Larchevêque said the partnership “marks a new, important chapter in bringing security tokens to the Ledger platforms”.

The current partnership is built upon an already established collaboration back in November 2017. Then, significant investors backing the Neufund Initial Community Building Mechanism were offered special editions of the Ledger Nano S.

Ledger had recently released its desktop application for crypto asset management and is moving forward with plans to add ERC-20 integration to its app. The app will allow users to manage their blockchain-based security assets through Neufund’s set of protocols.

CEO of Neufund Zoe Adamovicz said: “Currently, Ledger’s hardware wallets are the safest way to set up and manage investments conducted through Neufund’s set of protocols. With operations in the 7-9 digit (EUR) range, security becomes a top priority.”

With security tokens taking deeper roots within the cryptocurrency economy, should security tokens replace or overshadow utility tokens, the race is on to offer the most efficient securitized services to an estimated USD 10 trillion securitized tokens market by 2020.

Recently, Gibraltar Stock Exchange joined Millbrook Accord for security token interoperability. Yesterday, crypto-based fintech operator Bankex expanded its ecosystem to include security token assets trading.

In October, Neufund’s partnership with leading European crypto exchange BitBay allowed investors to purchase security tokens using fiat currencies. The announcement followed other partnerships that involved Malta Stock Exchange and Binance crypto exchange. All in the bid to becoming the first end-to-end primary issuance platform for security tokens focused on equity tokens.

On the other hand, a shift in cryptocurrency investments towards institutions has Ledger expanding shop with plans of including crypto custodian services to its service chain just after making a profit of USD 29.4 million in hardware wallet sales.

The duo further disclosed a planned legal-technical hackathon to be held in Paris, with the objectives of creating a more secure framework for managing real-world assets.


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