Announcements

Ledger Vault to Provide Custody Solutions to Fumbi Network

June 15, 2021 - 2 min read

Investment platform Fumbi Network, founded by Juraj Forgacs in November 2018, recently selected Ledger as a custody and security solutions provider. Fumbi Network is a simple and secure service that enables those in the Slovak market, including the Czech Republic and Poland, to participate in the world of cryptocurrencies to do so seamlessly and safely.

Fumbi, which piloted in the Slovak market, is working on extending its services in Europe. They are currently working with regulators, in line with the proposal of the European Commission, to establish a regulatory benchmark.

Cryptocurrencies in Fumbi are managed by what is labeled the “Fumbi Algorithm,” which effectively rebalances client portfolios daily. Fumbi’s portfolio value depends on the total value of the cryptocurrency market, rather than their individual price movements, making it simple for those that utilize the service. As the company continued along its planned growth trajectory, it knew the next step was to invest in security.

“We knew that we could not build an investment service without institutional-grade security. Ledger was the obvious choice for us as their comprehensive solutions in storing cryptocurrencies are second-to-none,” said Juraj Forgacs. “The experience Ledger has working with larger cryptocurrency players gives us confidence and is also a selling point to our own clients. We look forward to working with Ledger as Fumbi continues to expand.”

“We are very pleased to be the custody solutions provider for Fumbi Network, a rapidly-growing investment platform that has made it easy and safe for those that utilize their services,” said Alexandre Lemarchand, Vice President, Global Sales, Ledger Vault. “By working with Ledger Vault, those that use Fumbi will benefit from our deep commitment to providing an unparalleled level of security, along with our unique experience. We are looking forward to having a longstanding relationship with Fumbi and we are excited to see their services expand.”

About Ledger Enterprise Solutions

Founded in 2021, Ledger Enterprise Solutions is a division of Ledger, the global leader in security and infrastructure solutions for safeguarding critical digital assets. The mission of Ledger Enterprise Solutions is to enable the digital assets industry to become a multi-trillion dollar industry globally. Ledger Enterprise Solutions provides enterprise-grade security technology solutions and services for custodians, exchanges, banks, and traditional financial institutions. For more information: please visit https://enterprise.ledger.com