NBX uses Ledger Vault to secure customers' funds

9.23.2022

The crypto industry continues to grow and providing reliable security is at the core of everything we do. Presently, the standard for cryptocurrency exchanges is to secure over 90% of customer funds offline in hardware wallets. This, however, leaves 10% or just under that, at-risk in online or “hot” wallets, which are those that quite frequently end up being hacked, often resulting in millions of dollars of losses.

The fact is, there’s a simple way to attack this problem: Ledger Vault.

Ledger Vault is a cold-storage solution that’s optimised for institutional usage. Using such a solution ensures that customers can rest assured their funds are always as secure as they can be. Institutions using Ledger Vault, including NBX, can provide the highest level of custody, without sacrificing the performance of their platforms.

Using the same foundational technology as a cold-storage cryptocurrency wallet, Ledger Vault allows us to keep only the amount of funds needed for day-to-day operations in hot wallets, with everything else stored offline without sacrificing the speed or efficiency of our platform. In other words, it’s a cold-storage system that’s engineered for institutional scale. Ledger Vault is live on NBX, which means that we have a share of Ledger’s $150 million insurance pool protecting your funds per the Ledger Vault policy.

We have integrated Ledger Vault with the NBX platform and the custody solution we have already built internally, which currently serves our customers. Ledger Vault works in tandem and complements our platform by further ensuring the safety of the crypto and digital assets we hold on behalf of our customers every day.

Now you can rest even easier as you invest or trade on the NBX platform. As we scale, the idea is that no matter how big we get, your crypto will always be secure.

To read more about Ledger Vault, go to https://vaultplatform.ledger.com.

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