Jan 12, 2021
Delio DUCATO signs cryptocurrency custodial contract with Ledger
Delio DUCATO(CEO James Jung) signed a contract with Ledger and started a business in virtual asset custody with Bitcoin.
Ledger provides cryptocurrency wallets and custodial services that can safely store customers’ virtual assets in 165 countries around the world, and they are evaluated as a global company in the custody field along with Bitgo.
In particular, Ledger is equipped with five-level security elements such as Multi-Authorization Hardware Security Module (HSM), Personal Security Device (PSD), and a secure operating system BOLOS, to secure strong protection. Cryptocurrencies that can be managed with Ledger support all major cryptocurrencies such as Bitcoin, Ethereum, and Tether (USDT).
Through this business cooperation agreement with Ledger, Delio DUCATO will be able to keep customers’ assets more secure, also receive $150 million in compensation insurance from Ledger in case of theft. Compensation insurance can be applied to the following cases; external theft of the customer’s master seed key and private key, the security of transmission of the seed key portion, and theft of internal employees through public offerings to receive compensation.
Furthermore, Delio DUCATO has added its ‘Wallet owner authentication and direct withdrawal’ function to the system, finally completed stronger security.
Unlike other wallet services, this function is more secure because the service provider has no control over withdrawals.
When withdrawing cryptocurrency, it is a method in which the owner directly withdraws the cryptocurrency from the blockchain node after authenticating oneself through the security token sent to the owner’s mobile phone.
Justin Kang, marketing director at Delio DUCATO, said, “Delio DUCATO’s TVU (Total Value Utilized) exceeded 640 billion KRW thanks to the recent growth of bitcoin, and customer assets are increasing rapidly. Through this collaboration with Ledger, customer assets have become even more secure”.
Head of APAC Ledger, Glenn Woo says, “Combining Ledger’s excellent technology and Delio’s business capabilities, we will continue to expand our business in a variety of digital assets services including Custody”.
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