Crypto hardware wallet firm Ledger has announced it is opening a new branch in Hong Kong

Crypto wallet provider Ledger has expanded its global presence to Hong Kong to meet the increasing demand for its security solutions for cryptocurrencies.

Founded in 2014, Ledger develops security and infrastructure solutions for cryptocurrencies as well as blockchain applications for individuals and companies, by leveraging a distinctive, proprietary technology. The company designed two wallets: the light Ledger Nano S and the touchscreen Ledger Blue, which can both support directly 40 cryptocurrencies. The company also has a multi-authorization crypto wallet management solution, called Ledger Vault, which enables financial institutions to safekeep their crypto funds.

The new Hong Kong office will be run by Benjamin Soong, Ledger’s new Head of Asia Pacific (APAC). Soong, who brings nearly two decades of sales, business development and operations experience to the role, will also oversee all of Ledger’s APAC operations. Soong previously served as the Managing Director, Head of Asia Pacific Sales at S&P Global Market Intelligence. Earlier in his career, he worked in finance and accounting roles at KPMG and Deloitte.

“It is a very exciting time to join Ledger, as the company continues to rapidly expand across the globe,” said Soong. “I have seen first hand how mobile, digital and crypto have taken off across Asia, and the opening of this office will help meet the increased demand for our products and services. We expect to grow quickly, and have already targeted future office expansion, including Tokyo, Seoul and Singapore. I look forward to building a world-class team that will help us accelerate our growth across Asia Pacific.”

Pascal Gauthier, President of Ledger, said that Soong brings a tremendous amount of experience and expertise in the region, which will help Ledger capitalize on future opportunities.

“We are excited to welcome Benjamin to our team, as he will play a vital role in helping us grow and expand our business across Asia Pacific,” said Gauthier. “APAC is a key market that has seen increased demand. With Benjamin at the helm, we are confident we can deliver top security for both consumers and financial institutions to protect their crypto assets.”

Ledger also announced that it is planning to add support for more stablecoins and expand Tether (USDT)’s usability across all its products and services. Currently, Ledger Nano and Ledger Blue supports USDT, but the company wants to add the stablecoin to its institutional service Ledger Vault.

“One thing that is slightly unique in China and South Korea is the demand for USDT,” said Soong. “Since both of those countries have capital controls, in terms of your ability to move currency out of the country.”

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