Ledger Vault, the multi-authorization cryptocurrency wallet management solution from Ledger, has partnered with Coinstreet Partners and Global Intelligent Trust (GIT) to launch a new digital asset custody service.

Coinstreet is a decentralized investment banking group and FinTech consultancy firm while GIT is a registered company that provides professional trust services to individual, corporate, and institutional users. 

According to the report today, the service covers several assets, including initial Tokenized Security Offering (TSO), Tokenized Asset Offering (TAO), Digitized Security Offering (DSO), Stable Coin Offering (SCO), and Security Token Offering (STO).

The new service leverages on Ledger Vault’s digital asset custody solution and will be integrated on STO Global-X’s (STGX) digital asset trading and tokenization platform. This will allow investors of the offerings to secure digital assets in Ledger’s bank-grade digital vault. 

STGX is a tech firm based in Singapore offering “an institutional-grade, white-label marketplace solution for broker-dealers, licensed institutions, and regulated marketing operators.”

The collaboration aims to provide independent custody services to licensed broker-dealers offering fully compliant services to qualified corporate issuers on the aforementioned digital assets.

Commenting on this, the chairman of Coinstreet Partners, Chan Heng Fai, said

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 Integration of Ledger Vault’s solution with STGX’s platform allows for end-to-end, institutional-grade tokenization, and trading of digital assets, while also assuring the customers that their assets are secured.

In addition, audited reports will be provided by qualified fund administrators, in the same manner as a traditional financial custodian, with the chairman of Global Intelligent Trust, Lowell Lo comment that:

It is crucial to have best practices for custody services for digital assets, benchmarked to the professional standard in the traditional capital market industry.

In September, Ledger Vault’s parent company, Ledger, launched support for over 1,250 ERC-20 tokens and 22 other coins on its Ledger Live app, to give users an enhanced experience.

Benjamin Arama, the Product Manager at Ledger Live, noted that development was aimed at allowing the users to experience a more accessible and a third party free experience with Ledger, Coinfomania reported.

Source: Coinfo mania