Crypto storage provider Ledger expands into South Korea

Cryptocurrency custodian Ledger is expanding into Asia through a new partnership with South Korea-based blockchain platform FLETA.

In a press release, Ledger announced that its institutional security platform Ledger Vault will secure all blockchain-based tokens for the South Korean company, which seeks to provide a “sustainable ecosystem” for decentralized applications and ensure that these dapps can communicate and work with each other.

FLETA launched in November and offers what it calls a “Gateway System,” a feature that permits projects from other blockchains to utilize ERC-20 tokens through FLETA. It’s these tokens that Ledger Vault will now hold and protect, providing FETA’s clients with added security. FLETA is also working with the South Korean government on a proof-of-concept project to help manage the country’s health-care network.

“With this integration, we can pair FLETA’s scalability and speed with Ledger Vault’s multi-authorization and approval features to provide token holders and dapps with the highest level of security for managing their digital assets,” FLETA CEO Paul Park said in a statement.

Ledger knows a thing or two about keeping digital assets safe. Last December, the company unveiled a new feature for its hardware wallets that enables two-factor authentication (2FA) that not only protects users’ crypto stash, but also everyday Internet accounts such as GitHub, Facebook and Google.

Ledger’s institutional arm, however, Ledger Vault, is the “core business unit” of the company, according to its website. And a foot in the door into the Asian market could provide a big boost for that business.