VirgoCX turns to Ledger to secure its crypto-exchange

VirgoC, a Canadian cryptocurrency exchange, now operates the solution Ledger Vault to increase the security of the assets on its service.

According to a press release, VirgoCX is the last crypto-exchange to opt for the solution from the French leader in the security of digital assets Ledger.

Baptized Ledger vault, the solution allows exchanges to develop multi-signature governance rules and create a secure, flexible and more agile environment for crypto-exchanges.

This fall, Ledger announced that the assets kept as part of the Vault offer were now insured up to $ 150 million.

We are delighted to connect Ledger Vault’s sophisticated infrastructure to the VirgoCX platform. This collaboration strengthens our mission to become the most reliable trading platform in Canada and around the world, ”said Adam Cai, President of VirgoCX.

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The integration of Ledger Vault will help VirgoCX adjust its business operations to address the growing concern for the preservation of cryptocurrency assets within the industry.

According to KPMG, 8.79 billion euros in cryptocurrencies have been stolen since 2017. The network of audit firms believes that security standards today are not strict enough, leaving a "tremendous profit opportunity" for custodians.

As cryptocurrencies are a vulnerable asset, VirgoCX's commitment to security alongside Ledger Vault technology enables a transparent and secure trading experience, "added Demetrios Skalkotos, global manager at Ledger Vault.

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