Digital asset security solution incorporates Universal Protocol Token into its technology
Ledger, the global leader in security and infrastructure solutions for digital assets and blockchain applications, has joined the Universal Protocol Alliance, the world’s leading coalition of blockchain organizations dedicated to driving global mainstream adoption of crypto assets that benefit consumers, businesses and governments with new and innovative use cases for cryptocurrency.
Ledger Vault is an enterprise infrastructure technology platform that brings the security and trust that the digital asset community has come to know from the company’s industry-leading and independently-certified hardware wallets. Vault is a multi-authorization, governance infrastructure and infrastructure, and is backed by a tailored crime insurance program1 for the management of crypto assets that was specifically engineered to address the concerns of organizations such as Universal Protocol Alliance.
The mission of Universal Protocol is to make all cryptocurrencies interoperable, in a form that is more secure and convenient than what is currently available. As part of its commitment and Membership in the Alliance, Ledger will serve as the digital asset wallet partner to the Alliance. Ledger hardware devices and the Ledger Vault are currently compatible with all Universal Protocol Tokens. This utility complements contributions from other UP alliance members, including exchanges Bittrex Global and Uphold, blockchain financial services provider Cred, Blockchain at Berkeley, and blockchain and smart contract security company CertiK.
“The Universal Protocol Platform’s technology is beneficial to the entire blockchain industry, as it allows many types of digital assets to be created, and all cryptocurrencies to be converted on a single network. We are honored to be a part of UP Alliance, which can be touted as the developer of the first fully transparent set of stablecoins and a highly valuable mega utility token (UPT). Those looking to solve very practical problems such as the safeguarding of their digital assets can put their trust in our institutional product as it directly compliments UP’s focus,” said Demetrios Skalkotos, Global Head of Vault, Ledger.
“Ledger’s fully customizable enterprise solutions, which have been tailored to the protection of crypto assets for banks, hedge funds, exchanges, and high net worth individuals, is the future of digital asset custody tech solutions,” said Dan Schatt, co-founder of the Universal Protocol Alliance and Cred. “Their platform, powered by best-in-class technology, will aid in the mass implementation of blockchain technology that utilizes UPUSD, UPEUR, UPT and other UP tokens. Ledger’s comprehensive solution will contribute to UPT as a mega utility token and will also further complement and work with the other Alliance members.”
Universal Protocol consists of companies supporting the growth of digital asset companies who contribute their unique expertise that allows for the minting, custody, and storage of digital ‘proxy’ assets. Additionally, UP member organizations create new and improved digital asset products, and have also introduced contemporary safeguards required for the mainstream adoption of cryptocurrency.
Since the launch of the Alliance in 2018, Universal Protocol has released three UP Stablecoins and Tokens: Universal Dollar (UPUSD), Universal Euro (UPEUR), and UPBTC (Bitcoin). Universal Protocol recently listed UPEUR, UPUSD, the Universal Protocol Token (UPT) on Bittrex Global, a critical member of the UP Alliance.