HomeNewsSouth African Digital Asset Broker Ovex Adopts Ledger Vault Platform
South African Digital Asset Broker Ovex Adopts Ledger Vault Platform

South African Digital Asset Broker Ovex Adopts Ledger Vault Platform

Last updated 30th Nov 2022

Ledger Enterprise Solutions has entered into an agreement with Ovex, a South-African-based digital asset prime broker. Ovex will utilize the Ledger Vault platform, the institutional-grade custody technology for enterprises, to secure clients’ digital asset portfolios.

Founded in 2017, Ovex is a cryptocurrency prime broker offering high yield investment products and expertise in OTC (over-the-counter) trading and arbitrage for high net worth individuals and institutions. Ovex is dedicated to improving the efficiency of the digital asset market in the developing world and improving financial market inclusivity. Ovex was initially founded to bring institutional-grade digital asset services to clients in South Africa and is now expanding across Europe, Canada, Dubai and Australia. 

In an effort to elevate security protocols, Ovex will benefit from Ledger Vault’s end-to-end security infrastructure all while allowing clients to be in complete control of their assets from trading to offline storage without ever compromising speed, flexibility, and governance. 

In 2019, Ledger obtained a pooled customized crime insurance program insuring crypto-assets for up to $150 million for its Ledger Vault platform led by the prestigious Arch UK Lloyds of London syndicate. All Ledger Enterprise Solutions clients including Ovex benefit from the Ledger Enterprise Solution platform’s custom $150 million pooled crime insurance.

“There was a natural synergy from the start of this partnership. Ovex provides a seamless experience for high volume traders to buy and trade crypto while the Ledger Vault acts as the platform’s security guard and regulatory counselor,” said Alexandre Lemarchand, Vice President of Global Sales and Partnerships at Ledger Enterprise Solutions. “As Ovex expands into new markets and territories, we are committed to strengthening this synergy by providing best-in-class security and regulatory guidance.” 

“There is often a trade-off between security and ease-of-use when evaluating digital asset technologies,” said Jonathan Ovadia, CEO of Ovex. “The Ledger Vault solution is one of the few platforms where that isn’t an issue. We look forward to our continued partnership with the team at Ledger as we expand into new regions.” 

Launched in March, Ledger Enterprise Solutions offers products and services specifically engineered with the needs of enterprise and institutional clients in mind. With Ledger Vault being the core product, Ledger Enterprise Solutions customizes operations at speed and scale for enterprises in need of a battle-tested security partner.

Staff Writer

Staff Writer