Bermudian-based fintech outfit Velocity Ledger Ltd Holdings has chosen HLC Cyber Group as the provider of both security technology and information security services for their two wholly-owned subsidiaries, VL Financial, Ltd and Velocity Ledger Technology (Bermuda) Ltd.

VL Financial is engaged in the application process with the Bermuda Monetary Authority to operate a digital asset exchange in Bermuda supporting asset-backed investment and real estate tokens. Velocity Ledger Technology licenses a private blockchain-enabled platform for the generation of tokenised assets, secondary trading and settlement of trades.

HLC delivers information security solutions to the regulated financial services industry, as well as other regulated industries, a statement said. It operates a cybersecurity management, auditing and enforcement SaaS platform.

Julian Jacobsen, president of Velocity Ledger Holdings, said: “Our regulators and clients expect us to implement information security best practices. The HLC Cyber Group provides a unique blend of exchange-level cybersecurity compliance, digital asset, and practical information security experience.

“Their Helical Dashboard has powerful capabilities that simplify automated verification of our security policies across physical and virtual devices, provide actionable intelligence respecting our information security programme, and enable robust reporting.”

Anant Naganathan, executive director of HLC Cyber Group, said: “We are looking forward to building our partnership with Velocity Ledger, a leader in the digital asset issuance and trading space. Their commitment to investor and issuer protection extends to ensuring the security of their subscribers and we are excited that they have chosen us to advance that commitment.”