European crypto startups Neufund and Ledger have announced that they will work together to bring ERC20 tokens issued through Neufund to Ledger’s cryptocurrency hardware wallets and applications.
Neufund, based in Berlin, and Paris-headquartered hardware wallet-maker Ledger already had a partnership dating back to 2017 when Ledger created a bespoke edition of the Nano S wallet with extra security for the German market. This was then provided to “high-profile” investors joining “Neufund’s Initial Community Building Mechanism.”
In the latest partnership, security token and issuance platform Neufund and Ledger will “enable users to manage real-world assets on the blockchain while creating the safest user-experience for investors.” It aims to do so by adding ERC20 integration to Ledger’s new desktop application, “Ledger Live,” allowing users to manage any tokens issued using Neufund’s protocols and platform.
Bringing Securities Tokens to Ledger Platforms
Neufund CEO Zoe Adamovicz reveals the functionality looks set to target high-level investors:
“Currently, Ledger’s hardware wallets are the safest way to set up and manage investments conducted through Neufund’s set of protocols. With operations in the 7-9 digit (€) range, security becomes the top priority.”
Neufund’s own platform already uses Ledger’s solutions, and users can manage their Neufund accounts through Ledger wallets.
Indeed, as well as tokenizing real-world assets for its customers Neufund will be launching its own security token offering (STO) this month. Due to German regulation, the minimum purchase in the Neufund STO will be €100,000, or the equivalent of around $114,000 USD.
Eric Larchevêque, CEO at Ledger, believes the move “marks a new, important chapter in bringing security tokens to the Ledger platforms.”
The pair also plans to organize an “open legal-technical hackathon” in Paris to explore even more solutions for managing tokenized crypto assets.
In October, a partnership between web-based cryptocurrency wallet Blockchain and Ledger was announced that has seen Ledger build a custom hardware device titled the “Blockchain Lockbox.” The new device allows users to manage both online and offline crypto funds through one interface.
After selling over a million cryptocurrency hardware wallets in 2017, with 2018 figures yet to be hinted at, Ledger appears to be forming new partnerships to cement its market position competing with fellow wallet manufacturer Trezor and potential entrant Sony. Just a matter of days ago, Trezor had to warnconsumers as fake Trezor One hardware wallets appeared on the market.