Ledger Hardware Wallet Provider, Coinbase Team Up- Report

Crypto adoption is picking up pace as companies in the crypto industry are striking deals and entering partnerships more than ever. Ledger, one of the most popular hardware wallet providers, announced its partnership with one of the largest global cryptocurrency exchanges, Coinbase.

The collaboration between these leading companies aims to streamline the process of trading of cryptocurrencies and will also foresee the transfer of assets from exchange to self-custody. 

As per CoinMarketCap, Coinbase holds second rank among the centralized cryptocurrency exchanges in terms of usage . However, Binance is still leading the market even after a recent tussle between the ecosystem and the Securities and Exchange Commission (SEC).

Coinbase offers the trading of 241 tokens/coins of the crypto market in more than 100 countries. The three currencies that are offered/supported by crypto exchanges include USD, EUR, and GBP.

The partnership entails that Coinbase Pay, an on-ramp solution of Coinbase, will be integrated into the Ledger live application. The integration will enable the users to transfer their existing crypto asset holdings and immediately transact from their desktop or mobile phone.  

Following the successful integration, users can receive their purchase token/coins directly into the Ledger device. 

Ian Rogers, Chief Experience Officer at Ledger, spoke following the partnership, saying, “Coinbase and Ledger have been two of the only companies in crypto for more than ten years, and it’s already the case that we share both values and customers.”  

He added, “Both Ledger and Coinbase are focused on making crypto easy to use and keeping consumers secure. Now Coinbase users can easily buy crypto right within Ledger Live, and Ledger users can easily buy with Coinbase. Ledger is proud to give this experience to Coinbase customers and option to Ledger users through this partnership.”

Coinbase (COIN) Stock Performance

Coinbase (COIN) stock price flourished more than 18% in the weekly time frame and was trading at $140.39; however, in the last trading session, the price showed a steep decline of 4.70%. 

It is crucial to note that in the pre-market session, COIN stock reflected a revival and growth of 7.38%, although market enthusiasts claim this surge to be backed by earnings, which will be released on February 15, 2024.   

The growth in the trading price is expected to continue in the coming months, as the Bitcoin halving is approaching; the estimated date is April 19, 2024. The stock price of Coinbase is claimed to be influenced by Bitcoin and its movements because it is one of the major exchanges in which traders prefer to trade Bitcoin in massive quantities daily. 

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.