Gemalto and Ledger partner for using Blockchain for Cryptocurrency security

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Gemalto and security and infrastructure company Ledger have announced a technology partnership for offering security infrastructure for crypto assets applications. The joint Gemalto and Ledger solution consists of integration of Ledger’s Blockchain Open Ledger Operating System (BOLOS) into Gemalto’s SafeNet Hardware Security Module (HSM). This will provide secure environment for financial institutions looking to leverage cryptocurrency. The solution can be used to secure launching of investable products on cryptocurrencies, or stocking cryptocurrencies.

The market has seen a significant growth of cryptocurrencies over the past few years, now representing a market capitalization of $137 billion, compared to $7.8 trillion for gold and $83.8 trillion for the global stock market. In addition, multiple large banks and hedge funds have announced plans to develop and implement blockchain use cases, both for internal and external purposes.

“As the market value of blockchain based solutions rises, so does the need for bank grade security products, when financial institutions are looking for dedicated, certified solutions. We plan to leverage SafeNet HSM to provide our clients in the financial industry with a unique, secure product line customised to their needs,” said Eric Larchevêque, CEO at Ledger.

“With the proper security to protect communication, devices and users, blockchain can offer a trusted platform for parties that don’t have an existing relationship to do business efficiently and transparently. Beyond the financial services market, we are also working with Ledger to embed BOLOS into any device’s secure element and bring high-assurance security to markets like smart energy applications, home automation or wearables,’ said Todd Moore, Senior Vice President of Encryption Products at Gemalto.

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