Universal Ledger Announces $10 Million Financing Led by Hard Yaka

According to reports, Universal Ledger, a wallet as a service provider, announced the completion of a $10 million financing, led by Hard Yaka. Universal Ledger aims to help users build their own encrypted wallets. Its clients are mainly large financial institutions and administrative institutions. The company has built a hierarchical verification system that can provide low-level verification of phone numbers, emails, and other identification information, as well as high-level verification, to ensure transaction security.

Universal Ledger completed $10 million financing

The Singapore-based wallet as a service provider, Universal Ledger, has recently announced the completion of a $10 million financing led by Hard Yaka. This financing further cements Universal Ledger’s position as a leading player in the highly competitive and rapidly evolving cryptocurrency wallet industry.

What is Universal Ledger?

Universal Ledger is a wallet as a service provider that helps users build their own encrypted wallets. They serve primarily large financial institutions and administrative institutions who require robust security features that meet regulatory and compliance standards. They aim to make it easy for their clients to deploy blockchain technology through their platform, which includes a hierarchical verification system that provides low-level and high-level verification for transaction security.

The Importance of Encrypted Wallets

In today’s digital age, online security has become a major concern for both businesses and individuals. Traditional payment methods such as cash and cheques are gradually being phased out in favor of digital currencies that offer more secure, efficient, and transparent transactions. Cryptocurrency wallets have thus emerged as indispensable tools for the storage, transfer, and management of digital assets.
However, the security of these wallets can be easily compromised if they are not encrypted properly. In fact, numerous cases of wallet breaches have been reported, resulting in the loss of millions of dollars worth of digital assets. It is thus essential for wallet providers to prioritize security and to continuously improve their encryption methods to minimize the risk of hacks and fraud.

Universal Ledger’s Approach to Security

Universal Ledger recognizes the importance of security in the cryptocurrency industry and has thus developed a hierarchical verification system to address this issue. This verification system allows their clients to verify phone numbers, emails, and other identification information at both low and high levels.
This ensures that transactions are authenticated and that only the intended recipient can access the digital assets. Moreover, Universal Ledger’s platform is designed to meet global regulatory requirements, including KYC and AML standards. This ensures that clients can comply with regulatory mandates and protect themselves from legal and reputational risks.

The Significance of the $10 Million Financing

The recent financing is a major milestone for Universal Ledger, as it supports their vision of being a leader in the wallet as a service industry. Hard Yaka, the lead investor, is known for its strategic investments in disruptive fintech companies, providing Universal Ledger with not only financial support but also valuable industry expertise.
The $10 million financing will enable Universal Ledger to expand its operations, invest in product development, and enhance its encryption methods to meet the ever-increasing demands of clients. It will also enable them to strengthen their partnerships with existing clients and to explore new opportunities in the global market.

Conclusion

The $10 million financing led by Hard Yaka is a testament to Universal Ledger’s commitment to providing a secure and innovative platform for their clients. Their hierarchical verification system and compliance with global regulatory requirements demonstrate their understanding of the risks and challenges faced by the cryptocurrency industry.
As the demand for digital currencies continues to grow, the need for secure and efficient wallet solutions will only intensify. Universal Ledger is well-positioned to meet this demand and to help their clients navigate the complex and rapidly evolving landscape of the cryptocurrency industry.

FAQs

1. What is Universal Ledger?
Universal Ledger is a wallet as a service provider that helps users build their own encrypted wallets. They serve primarily large financial institutions and administrative institutions.
2. What is the hierarchical verification system offered by Universal Ledger?
The hierarchical verification system allows clients to verify phone numbers, emails, and other identification information at both low and high levels to ensure transaction security.
3. What is the significance of the $10 million financing led by Hard Yaka?
The $10 million financing will enable Universal Ledger to expand its operations, invest in product development, and enhance its encryption methods to meet the ever-increasing demands of clients. It also strengthens their partnerships with existing clients and enables them to explore new opportunities in the global market.
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