Ledger's digital currency wallet management unit, Ledger Vault, partnered with Coinstreet and Global Intelligent Trust (GIT) to release a new custody service for digital assets.

The consortium between Ledger Vault, and companies; Coinstreet and <a href="https://www.cryptoknowmics.com/crypto/the-future-of-automation-in-ux-and-design-system-ecosystems-with-jiri-trecak-supernova-at-tce2019-prague/">Global Intelligent Trust</a> (GIT) centers on providing secured custody service for digital assets.

Per the <a href="http://www.assetservicingtimes.com/assetservicesnews/article.php?article_id=10045">report</a> on December 11, it encompasses several digital assets. This includes initial Tokenized Security Offering (TSO), Security Token Offering (STO), Digitized Security Offering (DSO), Stable Coin Offering (SCO), and Tokenized Asset Offering (TAO).
<h2>Ledger Vault Custody Solution</h2>
Relying on Ledger Vault's digital asset custody solution, the new service will also be integrated on STO Global-X's (STGX) trading and tokenization platform for digital assets.

Besides offering an independent custody service to licensed broker-dealers who issue fully compliant services on the listed assets to qualified corporate issuers. The new service ultimately enables the investors to safely store digital assets on the bank-grade digital vault offered by Ledger.

Speaking on the development, Chan Heng Fai, the chairman of Coinstreet Partners, explained that:

"Professional investors and fund managers investing in STOs may not want to manage the private keys in-house. As STOs gain traction, there is a strong demand for 3rd party independent digital asset custody services."

The idea of Integrating Ledger Vault's solution on STGX's digital asset platform allowed for an end-to-end trading and tokenization platform. It also resulted in an institutional-grade platform, thereby on-boarding Institutional investors, whilst ensuring that their assets are safe.

In this case, STGX customers can now instantly manage 100% of its keys, including its liquidity, per the report. Moreso, audited reports will be issued by the qualified fund administrators, just in the same manner as a traditional financial custodian.

"It is crucial to have best practices for custody services for digital assets, benchmarked to the professional standard in the traditional capital market industry." Lowell Lo, the chairman of Global Intelligent Trust, stated.

Ledger Vault to Launch New Digital Asset Custody Service in Partnership With Coinstreet and GIT

Ibiam Wayas is an optimistic crypto news reporter who also enjoys tech writing. He is an introvert who spends much of his time on the internet studying facts that will help him excel in the digital/cryptocurrency space.

Ledger Vault to Launch New Digital Asset Custody Service in Partnership With Coinstreet and GIT

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