• Ledger has officially launched operations in New York and has employed Demetrios Skalkotos to focus specifically on the Ledger Vault
• Ledger Vault is aimed at helping institutional investors secure their cryptoassets.
• CEO of Ledger, Pascal Gauthier says launching Vault in New York is a forward-thinking manoeuvre.

Ledger, a leading France-based bitcoin hardware wallet manufacturer has announced the launching of its New York office and the hiring of Demetrios Skalkotos, the former Vice President of the parent firm of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), to help take its Ledger Vault hardware to the next level, reported Finance Magnates on November 26.

Live in New York City

Ledger, a highly reputed manufacturer of bitcoin hardware wallets, has launched operations in New York City, the financial capital of the world, in its bid to make its Ledger Vault product for institutional investors a colossal success.

Per sources close to the matter, the firm has also engaged the services of Demetrios Skalkotos, a former Vice President of Intercontinental Exchange (ICE), where he functioned as the firm’s Global Head of Desktop Solutions and Content Acquisition.

As stated on the Ledger website, Skalkotos has extensive experience running global software and infrastructure businesses, as well as product development, sales and marketing and more.

The Vault Advantage

According to Ledger, its Vault product is a self-custody solution with multi-authorizations, targeted at making it easier for institutional investors to manage their cryptoassets and it will serve as a business security tool for financial institutions.

With Ledger’s successful expansion to New York City, the firm has made it clear that Skalkotos will now head the global business unit operations for the Vault and help the new product achieve much-needed success.

Commenting on the development, Skalkotos reiterated that keeping large amounts of digital cryptoassets remains an arduous task for crypto big whales and institutional investors, as such Ledger has launched the Ledger Vault to help fill this huge void.

“As Blockchain transforms the financial system, so must the security solutions that protect it,” said Skalkotos, adding “Secure storage of massive amounts of digital assets is a highly complex challenge that cannot be solved by just implementing procedures.”   

Despite the slump in the price of bitcoin and altcoins, Ledger’s New York expansion move goes a long way to show investors have not entirely lost interest in the burgeoning digital asset class.

According to Forbes, in 2017, when the entire cryptocurrency markets experienced a strong bullish surge, Ledger sold more than 1 million hardware devices.

With the bears now ruling the cryptoverse and its focus now on institutional investors, it remains to be seen whether the Ledger Vault wallet will achieve greater success.