Payments Startup Uphold Partners With Ledger To Improve Security

The French cryptocurrency hardware firm Ledger has recently partnered with the payments startup Uphold in order to help the American company to improve security. The official press release is featured in the latest cryptocurrency news and was shared  on May 13.

Previously named Bitreserve, the payments startup will use Ledger’s institutional custody platform Ledger Vault in order to boost its anti-hack protection by simply adding an extra layer of security. The co-founder and CEO of Uphold, J.P. Thieriot, recently stated that Ledger Vault integration was mostly driven by the customer demand for thorough security measures.

As the press release notes, the integration of the technology that Ledger uses will help the payments startup Uphold in a couple of ways. As many best cryptocurrency news sites report, the benefits will include a multi-authorization governance model as well as support of new ERC-20 stablecoins as well as other proxy assets such as the Universal Protocol-based tokens, among other benefits.

““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 … 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,” the chief of the payments startup Uphold said.

First rolled out in May 2018, Ledger is a digital asset security tool that targets institutional investors. The payments startup Uphold will benefit from this – especially because the firm (Ledger) announced an expansion to its business to New York in November 2018, which serves a great benefit to the American startup. On top of this, Ledger appointed a former Intercontinental Exchange (ICE) executive and made it their head of global operations.

In the coming altcoin news, we also see the announcement that Ledger Vault partnered with the Canadian crypto exchange National Digital Asset Exchange (NDAX) which will use the Vault to secure its assets.

In other news beside the crypto payments startup Uphold and its partnership with Ledger, we can see that Binance is ready to fully resume deposits and withdrawals soon, following the major hack that made the crypto exchange lose more than $40 million worth of Bitcoin (BTC).