• Sat, 24 Aug 2019, 08:41 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Uphold to boost security of crypto funds with Ledger security tools

Wed, 15 May 2019, 11:01 am UTC

American payments start-up Uphold is teaming up with Ledger, a provider of security and infrastructure solutions for cryptocurrencies and blockchain applications, to improve security, as reported by Cointelegraph.

Uphold, formerly Bitreserve, is a leading cloud-based digital currency platform that allows a user to transact different currencies and commodities. Since its launch in 2015, the platform’s app model combined with payment connectivity has served more than 184 countries and facilitated over $3 billion in transactions.

Uphold will integrate the security tools of Ledger to enhance the security of user funds. Ledger’s institutional custody platform Ledger Vault will help protect customers’ funds from hacks that could lead to losses.

It’s always been our view that security’s been the most important issue with respect to mass adoption with cryptocurrencies and blockchain in general,” J.P. Thieriot, Uphold co-founder, told CoinDesk. “The only reason people would take a risk of moving their money away from the boring old bank on the corner is if they can derive benefits [from] taking the plunge.”

Thieriot noted that while the platform will undergo a major overhaul, the security changes will not be apparent to users. Most of the changes will be in the operation or behavior aspect of the platform.

The security upgrade will reportedly include key benefits such as multi-authorization governance model, new ERC-20 stablecoins support, and other proxy assets including the Universal Protocol-based tokens.

Speaking to CoinDesk, DemetriosSkalkotos, the Global Head of Ledger Vault, said that Ledger Vault is simply a technology provider and not a custodian.

We’re trying to provide a technology infrastructure, both software security integrated with secure elements and hardware,” he said.

This is not the first time for Ledger to work with custody companies. Earlier this year, Hong Kong’s Legacy Trust partnered with the cryptocurrency hardware wallet maker to provide “institutional-grade” cryptocurrency custody.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,129.60 (-2.64%)
  • Ethereum (ETH) $190.20 (-1.92%)
  • XRP (XRP) $0.272700 (-1.15%)
  • Bitcoin Cash (BCH) $307.67 (-1.65%)
  • Litecoin (LTC) $73.36 (-2.30%)
  • Bitcoin (BTC) $10,129.60 (-2.64%)
Aug 23, 2019 (Friday)
11:35
Stablecoin project Terra receives funding from HashKey Capital
10:49
Three of the founding members of Libra Association consider backing out: Report
08:55
Overstock's Patrick Byrne steps down as CEO
08:52
Pundi X brings XPOS crypto payments to Venezuela's Traki retail stores
07:22
Blockchain startup Blockstack scores strategic investment from Japan's Recruit Holdings
07:19
BitGo announces support for multi-signature EOS wallet and custody services
06:39
US Treasury blacklists crypto addresses of suspected Chinese fentanyl traffickers
06:14
Chainalysis launches ‘Chainalysis KYT Alerts’ to detect suspicious cryptocurrency activity in real-time
05:13
Cryptocurrencies used to buy fentanyl, other illicit drugs: White House
05:04
Blockchain energy startup Power Ledger extends energy trading trial in Fremantle
03:53
Blockchain accelerator initiatives launched at the University of California campuses
Aug 22, 2019 (Thursday)
13:05
Crypto exchange Coincheck mulls launching IEO Platform
12:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:53
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:42
Sierra Leone launches blockchain-based National Digital Identity Platform
10:43
Blockchain startup Blocko secures $7.4M in Series B+ round from major South Korean financial institutions
09:52
Crypto Technicals: Ethereum Classic ignores crypto space weakness, extends gains to break above 200-DMA
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft