Ledger launches custodial trading network for institutions

Quick Take

  • Crypto security firm Ledger launched a new trading platform for institutions named Tradelink.
  • In an announcement, the company highlighted the “growing need to mitigate third-party risk.”

Paris-based Ledger, the crypto security firm, this morning announced its expansion into the institutional trading space.

The company is rolling out a new trading network for institutions named Tradelink to enable custodial trading via select exchange and custodial partners.

“We are creating a future-proof solution that will give Ledger Enterprise customers flexibility and security allowing institutions to de-risk their businesses,” said Pascal Gauthier, chairman and CEO of Ledger, in a statement. “It is this core security foundation that can now be used to reduce counterparty risk and enable custodial trading for institutional investors.”

A bevy of wholesale partners will support the exchange at launch, including asset managers Laser Digital and Hodl Group; custodians such as Komainu, TetraTrust, Etana, Crypto Garage, Damex and Kryptodian; and exchanges and other kinds of brokers including Crypto.com, Bitstamp, Huobi, Uphold Institutional, CEX.IO, Wintermute, Coinsquare, NDAX, Damex, Bitazza, Flowdesk and YouHodler.

Heightened third-party risk in crypto


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In in its announcement, Ledger highlighted the “growing need to mitigate third-party risk” in crypto trading, given heightened security and regulatory concerns — while positioning Tradelink as a solution, in that it eliminates “network lock-in risks.”

Founded in 2014 and best-known for hardware wallets, Ledger is among Europe’s biggest crypto businesses. It has sold more than 6 million devices to customers across 200 countries to date, according to this morning’s announcement.

The company raised another $108 million in March this year at a flat $1.5 billion valuation.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Ryan Weeks is deals editor at the The Block, focused on fundraising, M&A and institutional trends in the crypto space, among other things. He is particularly interested in investigative work — so please send tips! Ryan previously worked at Financial News, Dow Jones as a fintech correspondent in London. Prior to that, he wrote for several different publications, including Sifted, AltFi and Wired. Beyond journalism, Ryan is a keen reader and writer. He enjoys all things active, especially running, rugby, climbing and tennis.


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