Crypto Custody Firm Ledger Expands Institutional Footprint in Switzerland and UK

The rebranded Ledger Enterprise Solutions is opening offices in Zurich, Geneva and London.

AccessTimeIconOct 28, 2021 at 8:00 a.m. UTC
Updated May 11, 2023 at 7:04 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Institution-focused cryptocurrency custody provider Ledger Enterprise Solutions (formerly known as LedgerVault) is opening offices in Switzerland and the U.K.

Paris-headquartered Ledger, the firm behind the popular Nano storage device for retail crypto users, is opening offices in Zurich, Geneva and London. The new offices will complement Ledger’s presence in New York and Singapore.

  • Ledger Removes 'Malicious Version' of Connect Kit; Why Is Meme Coin BONK Surging?
    01:48
    Ledger Removes 'Malicious Version' of Connect Kit; Why Is Meme Coin BONK Surging?
  • Ledger Didn't See Sales Uptick Significantly Following Binance's $4.3B Fine, CEO Says
    00:48
    Ledger Didn't See Sales Uptick Significantly Following Binance's $4.3B Fine, CEO Says
  • Ledger CEO on 2024 Expectations, Future of Wallet Recovery Service
    12:52
    Ledger CEO on 2024 Expectations, Future of Wallet Recovery Service
  • [SPONSORED CONTENT] Alvaro Cosi of Switzerland for UNHCR shares his perspective on raising awareness and funding for refugees utilizing blockchain technology
    16:00
    [SPONSORED CONTENT] Alvaro Cosi of Switzerland for UNHCR shares his perspective on raising awareness and funding for refugees utilizing blockchain technology
  • Switzerland, with its history of safekeeping assets plus its relative clarity on cryptocurrency regulation, is an important place for crypto custodians to have a base. Just last month, crypto custody firm Fireblocks opened a Swiss office.

    “If you think about the technology companies that are offering custody technology, most of LedgerVault’s competitors are in Switzerland,” said Ledger CEO Pascal Gauthier in an interview. “If you look at Swiss banks, they understand custody and cybersecurity better than your average financial institution, and Switzerland is very advanced compared to other places.”

    Ledger Enterprise Solutions also announced Frank Harzheim would be leading new business efforts in Switzerland.

    Ledger is also a partner in Komainu, the institutional crypto custody consortium, along with Japanese bank Nomura and digital asset trading firm CoinShares. Komainu and Ledger Enterprise Solutions are actually focused on two quite different use cases, Gauthier pointed out.

    “If a bank comes to LedgerVault, it’s because they have decided to do custody themselves and it becomes an on-balance sheet thing for them,” said Gauthier. “So on the one side, you do the custody yourself; on the other side, you delegate custody to Komianu.”

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Ian Allison

    Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.