Ledger announced that they have joined the Universal Protocol Alliance, the worldwide coalition of blockchain organizations that wants to promote the global adoption of crypto assets.
In particular, the mission of Universal Protocol (UP) is to make all crypto assets interoperable, in a more secure and convenient form than the current one, and Ledger will act as a partner thanks to its wallet.
Other partners are the Bittrex Global and Uphold exchanges, the financial blockchain services provider Cred, the University of Berkeley’s dedicated blockchain hub and the blockchain security and smart contract company CertiK.
The Ledger hardware devices, and the Ledger Vault, are already compatible with all Universal Protocol Tokens, and in particular the Ledger Vault serves as a technology platform for corporate infrastructure offering security and reliability.
Vault is a multi-authorization governance infrastructure, supported by a crime insurance program, specifically designed to address the concerns of organizations such as the Universal Protocol Alliance.
Universal Protocol is comprised of companies that support the growth of digital assets, enabling the minting and custody of digital assets, as well as the preservation of proxy assets.
In addition, UP organizations create new and improved digital products, introducing the necessary safeguards for the mainstream adoption of cryptocurrencies.
For example, since the launch of Alliance in 2018, two UP stablecoins and one UP token have been released: Universal Dollar (UPUSD), Universal Euro (UPEUR) and UPBTC (Bitcoin). these tokens have recently been listed on the Bittrex Global exchange.
The co-founder of the Universal Protocol Alliance and Cred, Dan Schatt, said:
“Ledger’s fully customizable enterprise solutions, which have been tailored to the protection of crypto assets for banks, hedge funds, exchanges, and high net worth individuals, is the future of digital asset custody tech solutions. Their platform, powered by best-in-class technology, will aid in the mass implementation of blockchain technology that utilizes UPUSD, UPEUR, UPT and other UP tokens. Ledger’s comprehensive solution will contribute to UPT as a mega utility token and will also further complement and work with the other Alliance members”.
Ledger‘s Global Head of Vault, Demetrios Skalkotos, added:
“The Universal Protocol Platform’s technology is beneficial to the entire blockchain industry, as it allows many types of digital assets to be created, and all cryptocurrencies to be converted on a single network. We are honored to be a part of UP Alliance, which can be touted as the developer of the first fully transparent set of stablecoins and a highly valuable mega utility token (UPT). Those looking to solve very practical problems such as the safeguarding of their digital assets can put their trust in our institutional product as it directly compliments UP’s focus”.