YouHodler becomes the first lender to utilize the digital asset security and infrastructure of the global leader in safety solutions
PARIS, June 24, 2020 /PRNewswire/ -- Ledger, the global leader in security and infrastructure solutions for critical digital assets and blockchain applications, has announced that YouHodler, a FinTech platform and crypto-backed loan service provider, has selected Ledger Vault, the multi-authorization digital asset wallet management solution, to be implemented across its platform, offering users an added layer of security and safety.
YouHodler, an EU and Swiss-based company, will adopt Ledger's high standards for liquidity management by integrating Ledger Vault's unparalleled digital asset management system into its lending platform to add an additional layer of security for its users in a simple and safe manner. Ledger Vault will provide the security infrastructure to protect YouHodler's customers and their digital assets.
The incorporation of Ledger Vault will serve YouHodler's need to provide its users protection for their cryptocurrency assets. In addition, branded Ledger Nano devices will also be offered to a population of users. Ledger Vault's technology, unlike that of traditional custodial solutions, enables platforms to build highly secure, multi-signature governance rules while ensuring liquidity within the platform is maintained at an optimal level on a 24/7 basis. The Vault technology creates a secure, flexible, and agile environment that will enable YouHodler users to secure their crypto-assets on the Ledger Vault platform, while leveraging the company's offering of fiat loans backed by crypto-assets.
As a company that started in 2018 with a focus on providing improved crypto-backed lending solutions, YouHodler strives to safely store crypto as collateral on their platform by leveraging traditional fiat loans, in addition to offering products such as, crypto savings accounts where users can earn up to 12% APR on deposits, crypto wallets for storage, an integrated crypto exchange to quickly convert fiat, crypto, and stablecoins, and asset multiplication tools like Multi HODL and Turbo Loans. Those utilizing the YouHodler platform will be comforted by Ledger's reputation for safety. All Ledger Vault customers including YouHodler benefit from the Vault platform's custom $150 million pooled crime insurance.
"Client safety, efficiency, and convenience are YouHodler's primary concern and with our new Ledger Vault partnership, we can proudly say we have these concerns fully covered by one of the best in the industry," said Ilya Volkov, CEO at YouHodler. "With these additional layers of security, our users can explore YouHodler like never before, taking full advantage of our crypto savings accounts, instant crypto-backed loans, and our trading/crypto multiplication suite for their complete benefit. I'd like to personally thank those at Ledger Vault for this terrific opportunity for our business and our community and I'm looking forward to a long and fruitful relationship with this innovative team."
"Ledger Vault continues to expand operations in the competitive DACH market, given the fact that we perform at the high standards that the region has come to expect when it comes to security. Our customers can rest assured that their security is our number one priority," said Alexandre Lemarchand, Vice President, Global Sales, Ledger. "By partnering with Ledger Vault, YouHodler's users can take advantage of that commitment to security, all while receiving a peace-of-mind and an added layer of safety and insurance against the threats from hackers—something that is prevalent in the cryptocurrency space."
Ledger Vault, an enterprise infrastructure technology platform, brings the security and trust that the crypto community has come to know from the company's industry-leading and independently certified hardware wallets. Vault is a multi-authorization, governance infrastructure, secure solution with a tailored crime insurance program for the management of crypto assets that was specifically engineered with the needs of clients like YouHodler in mind.
About Ledger Vault
Ledger Vault is a core business unit of Ledger, a leader in security for cryptocurrencies and blockchain applications. Leveraging Ledger's industry-leading and independently-certified security technology, the Ledger Vault provides information technology infrastructure enabling financial institutions to securely control their crypto assets with a multi-authorization self-custody management solution. With a global team of more than 200 professionals, Ledger develops a variety of products and services that safeguard crypto assets for individuals, companies, and connected devices. Founded in 2014, the company has offices in Paris, New York, Hong Kong, and Vierzon. For more information about the Ledger Vault, please visit: https://vaultplatform.ledger.com/
YouHodler FinTech platform is focused on crypto-backed lending with fiat (USD, EUR, CHF, GBP), crypto (BTC), and stablecoin loans (USDT, USDC, TUSD, PAX, PAXG, Dai), crypto/fiat and crypto/crypto conversions, as well as crypto accounts. The platform supports BTC, BCH, BNB, ETH, LTC, XLM, XRP, DASH, HT, REP, and other popular cryptocurrencies and tokens. YouHodler is an EU and Swiss-based company with two main offices: Limassol, Cyprus, and Lausanne, Switzerland. YouHodler is an active member of the Blockchain Association of Financial Commission and the Crypto Valley Association. Customers are protected by the independent Financial Commission's efficient dispute resolution process.