July  8th, 2020 — The Blockchain Association today announces that approved member and EU and Swiss-based FinTech startup YouHodler has launched new partnerships with industry-leading infrastructure security and risk management firms Ledger Vault and Elliptic to provide its customers with enhanced safety and confidence in digital currency transactions.

As part of its partnerships, YouHodler implements Ledger Vault’s multi-authorization digital asset wallet management solution across its platform, offering users an added layer of security and safety. YouHodler will use Elliptic Lens and Elliptic Navigator to closely analyze all crypto transactions in order to protect the platform and its users from a full range of criminal behavior such as money laundering, fraud schemes, terrorist financing, and sanctions evasion.

Ledger Vault

YouHodler adopts Ledger’s high standards for liquidity management by integrating Ledger Vault’s unparalleled digital asset management system into its lending platform to add an additional layer of security for its users in a simple and safe manner. Ledger Vault provides the security infrastructure to protect YouHodler’s customers and their digital assets.

The incorporation of Ledger Vault will serve YouHodler’s need to provide its users protection for their cryptocurrency assets. In addition, branded Ledger Nano devices will also be offered to a population of users. Ledger Vault’s technology, unlike that of traditional custodial solutions, enables platforms to build highly secure, multi-signature governance rules while ensuring liquidity within the platform is maintained at an optimal level on a 24/7 basis.

The Vault technology creates a secure, flexible, and agile environment that will enable YouHodler users to secure their crypto-assets on the Ledger Vault platform while leveraging the company’s offering of fiat loans backed by crypto-assets.

In addition to this YouHodler now has access to Ledger Vault’s crime insurance program, provided by Arch UK Lloyds of London syndicate that insures crypto assets for up to $150 million including against YouHodler employee theft caused by collusion and third-party theft of private keys/master seed in the event of a physical breach of hardware security.

Elliptic

In terms of coverage, Elliptic supports over 97% of all crypto assets by trading volume, which helps enable enhanced AML and sanctions compliance by crypto businesses. This is the broadest coverage of any crypto transaction screening solution in the industry. As YouHodler continues to add more coins, tokens, and stablecoins each month, Elliptic will be essential in helping to assess risk on transactions across over 100 different assets.

“Our evolving industry is constantly looking for new ways to stay ahead of criminal activity. With Elliptic setting the global standard in their given field, we’re confident YouHodler can work with them to prevent, detect and pursue all illicit behavior on the platform,” said Ilya Volkov, CEO of YouHodler. “YouHodler continues to integrate more solutions that help make the industry on the whole, more reliable and transparent. Having a solid partner such as Elliptic will help us provide a better experience overall for our clients and hopefully inspire other crypto service providers  to take charge and improve transaction monitoring.”

About the Blockchain Association

The Blockchain Association is uniting cryptocurrency exchanges and financial firms transacting on the blockchain that are committed to upholding the highest standards of commercial honor and best business practices by providing their customers’ free external dispute resolution (EDR) services. In joining the professional community companies and individuals have the unique opportunity to consult with industry experts, legal and compliance professionals, and fellow association members about regional regulations and compliance in key global markets where digital currencies are in very high demand.