Neufund, a platform that claims to enhance real-world assets with legally enforceable security tokens, has joined forces with Ledger, a France-based global manufacturer of hardware cryptocurrency wallets, to launch a highly secure blockchain platform to enable users to manage their real-world security tokens, according to a press release on December 6, 2018.
A Robust Framework for Security Tokens
As stated in Ledger’s press release, its new alliance with Neufund, which claims to be an end-to-end solution for the tokenization of securities, will see both teams work together to develop a robust framework for the management of security tokens.
For the crypto newbie, security tokens are digital assets that backed by real assets such as artworks, shares, bonds, and the like. Holders of these tokens get paid dividends based on the performance of the underlying assets.
At a time when STOs are fast gaining traction in the cryptospace, and experts predicting that security token offerings will soon replace the controversial initial coin offerings (ICOs), Neufund and Ledger are reportedly looking to build a highly functional and safe security tokens framework to make life easier for investors.
Earlier in the year, Ledger launched Ledger Live, a user-friendly desktop application that allows clients to manage up to 712 digital assets in real-time seamlessly.
Now, Ledger has reportedly hinted its working on adding support for ERC-20 tokens in its Ledger Live desktop app and also allow users to manage all security tokens issued via Neufund. Commenting on the development, CEO of Neufund, Zoe Adamovicz noted that:
“At current, Ledger’s hardware wallets are the most secure way to set up and manage investments conducted through Neufund’s set of protocols. Enabling big investors to manage their ERC-20 based equity tokens straight from a desktop app will disrupt the way we interact with our digital assets.”
It’s worth noting that the Ledger-Neufund collaboration first started in November 2017, when the former developed a customized edition of the Ledger Nano S hardware wallet for all crypto big whales who took part in Neufund’s Initial Community Building mechanism.
If all goes as planned, both teams have said they’ll be organizing an open legal-technical hackathon in Paris, with the aim of coming up with better ideas on how to manage tokenized real-world assets.