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Ledger partners with iPod designer for new security feature

Ledger

TL;DR Breakdown

  • Ledger teams up with a designer to boost the security of its new wallet
  • The company recorded an uptick in wallet sales
  • The new device can store more than 500 NFTs

Crypto wallet company Ledger has announced that it has partnered with Tony Fadell, the creator of the iPod design, to provide sophisticated security for users’ assets. The new wallet design will see the company create ways for users to access their assets easily while providing more protection. Hardware wallets have become the industry’s toast over the last few weeks thanks to the mishap that happened to lead crypto exchange FTX.

Ledger records uptick in wallet sales

After the FTX issue, traders could not withdraw funds from the exchange as it went bankrupt. Although the situation is presently under control in Japan, little can be said of other arms of the companies. According to an executive at Ledger, there has been a massive uptick in the number of new users purchasing the Ledger wallet.

The company recorded its largest single-day sale last month, weeks after the FTX debacle. All this points to the fact that most of the trading population is now dumping online wallets and are now choosing to use hardware wallets. The latest product, Ledger Stax, is the newest in a list of wallets they have produced over the last few years. The company has also sold about 5 million pieces of the older wallets in more than 200 countries.

The device can store about 500 NFTs

Fedell mentioned that the Ledger Stax was created to provide ease and comfort to users. He said that the designer was not only designed for people who are already familiar with the wallets as they intend to bring in more users. The new Ledger Stax is a credit card that stores NFTs and more than 500 cryptos.

The executive noted that digital assets are now used for more than the day-to-day exchange. Things like smart contracts are now becoming more popular in the market. Users can use the device to view their NFTs and asset balances even if it is powered off. Meanwhile, the company has assured that the device, upon full charge, can hold up power for weeks or months, depending on the usage. Fadell mentioned that the creation was born out of the need to provide something that would serve the future.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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