Ledger Vault launches digital asset custody service in new collaboration
11 December 2019 Hong Kong
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Ledger Vault, Coinstreet Partners and Global Intelligent Trust have collaborated to launch a new digital asset custody service for initial tokenized security offering, digitised security offering, tokenised asset offering, security token offering and stable coin offering.These services are built on Ledger Vault’s digital asset custody solution, which will be integrated with STO Global-X’s (STGX) digital asset tokenisation and trading platform.According to Ledger Vault, this collaboration offers independent digital asset custody services to licensed broker-dealers who provide a fully compliant tokenised security offering, digitised security offering, security token offering and stable coin offering services to qualified corporate issuers.Investors subscribing to these offerings can store digital assets securely in Ledger’s ‘bank-grade’ digital vault operated consortium.Meanwhile, audited reports will be provided by qualified fund administrators, in the same way as a traditional financial custodian. Chan Heng Fai, chair of Coinstreet Partners, said: “Professional investors and fund managers investing in security token offerings may not want to manage the private keys in-house. As security token offerings gain traction, there is a strong demand for third party independent digital asset custody services.\"Heng Fai continued: \"This consortium has also created a uniquely collaborative solution to resolve potential compliance risks caused by security token offering exchanges that offer trading and custody services on the same platform.\"Lowell Lo, chair of Global Intelligent Trust, commented: \"It is crucial to have best practices for custody services for digital assets, benchmarked to the professional standard in the traditional capital market industry.\" Samson Lee, co-founder of BMI Coinstreet Digital, added: “This exciting collaboration combines traditional capital market best practices, fully compliant work processes and corporate governance, and best of breed technologies together. It will significantly improve user experience and security for security token offering investors.”
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