Tony Fadell To Help Ledger In Developing New Crypto Hardware Wallet

• New Crypto Hardware Wallet will be out for sale in the first quarter of 2023.
•  Is Ledger also planning to raise $100 Million?

Ledger, the crypto wallet developer, collaborated with Tony Fadell, a globally popular developer of the Apple iPod and the co-founder and former CEO of the thermostat company, to create the Ledger Stax hardware wallet. 

According to Pascal Gauthier, Chief Executive Officer and Chairman of with the help of Stax, Ledger was aiming to be a more attractive and functional device than the previous Nano S, which looks quite similar to a USB thumb drive and one that can win mass adoption by crypto users. 

During an interview with crypto news outlets, Ian Rogers, Chief experience officer of Ledger, said, “We wanted to do something that is more fun and fits with where culture is going.” 

The device is quite small in size, similar to a credit card’s size, with an embedded magnet inside, which allows multiple devices to be stacked at a time, and the outer covering is wraparound with an e-ink which usually displays the details and even NFTs. 

The upcoming Ledger Stax will be sold for $279, which is quite expensive, compared to Nano S Plus for $79 and the Nano X wallet for $149.

The crypto market is struggling hard after the collapse of the centralized crypto exchange FTX, and market volatility is at its peak in the current scenario. However, Ledger has prepared its roadmap to launch its newly designed product at this point. 

Ian Rogers noted that “We were ready for this moment.” 

After FTX’s collapse, Ledger highlighted on November 14, 2022, that FTX filed for bankruptcy was the best day in its history and the previous day was the second-best day, and November was the best month of sales in Ledger’s history. 

According to Ledger’s reports, it has sold more than five million hardware wallets in more than 200 countries after its establishment in Paris in 2014. 

According to Ledger’s official website details, the Ledger Stax is available for pre-booking. 

Earlier on August 3, 2022, TheCoinRepublic reported that Ledger is planning to raise $100 million in a funding round to reach a higher valuation. By 2030, the Ledger is expected to grow by $1.72 billion, according to the recent Straits Research.

As a result, its valuation touched $1.5 billion. Shortly after that, as an unfortunate consequence, the company’s customer data leaked. The firm suffered quite a blow. As per the reports, scammers sought to steal customers’ private seeds. 

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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