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After FTX, wave of exchanges and projects seek cold-custody security; Ledger announces partnerships

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The idea is precisely to offer a service to the broker’s clients where they don’t need to trust the broker to store their cryptocurrencies (Image: Unsplash/maxsaeling)

Almost a month after the collapse of one of the biggest crypto exchanges of the world, the FTXthe demands for cold custody – that is, custody in a portfolio that does not depend on a third party – have been increasing among projects and brokerages.

This week alone, more than five projects and brokerages announced a partnership with Ledger, a technology provider for cold custody, such as “wallets”. In addition to companies, users themselves have increased the demand for a virtual wallet.

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“SBF [Sam Bankman-Fried] it’s the reason I bought my second Nano. I just received it today,” says one user on twitter about the Ledger Nano, Ledger’s wallet model.

The Crypto.com brokerage announced this week Ledger support for the wallet extension offered by the company.

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“Users can now import their Ledger hardware wallet into the Crypto.com wallet extension. This allows for a more secure experience when transacting and interacting with dApps, as users can physically confirm transactions to their Ledger wallet,” reads the announcement.

The idea is precisely to offer a service to the broker’s clients where they don’t need to trust the broker to keep their cryptocurrencies.

Fantom also announced its partnership with Ledger on the same day. The proposal is that users can now send, receive and view their FTM tokens, from the Fantom network, directly through the Ledger Live application.

The same announcement also brought to light the partnership with the SongBird network that integrated the network’s tokens, the SGB.

MoonBeam, the Parachain of the Polkadot network (DOT), was another to announce the partnership in this same idea, and in the same publication that the others were announced.

Source: Moneytimes

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