Cryptocurrency hardware wallet maker Ledger has raised €100 million in funding, the company announced in a disclosure Thursday. Pascal Gauthier, Ledger’s CEO, said there is a huge demand for hardware wallets. He added, “2023 is an even better year for us.” Because now you can’t even deposit money in a Swiss bank.” He added.
Ledger to expand distribution, production, and R&D with new infusion of funds
According to a Thursdayreport by Bloomberg, cryptocurrency hardware wallet maker Ledger revealed that it has raised 100 million euros ($109 million) from investors. The fundraising comes at a time when the crypto-related company is insolvent and has laid off a significant portion of its workforce, Ledger CEO Pascal Gauthier told Bloomberg’s Anna Irrera that the company will use the cash infusion to leverage distribution, production, research and development. expansion, he said.
Gauthier noted that in 2022, people have become very aware that depositing money on centralized crypto platforms is risky. The CEO also stressed that in the traditional financial world, recent bank failures have made it difficult for people to trust financial institutions.” “Suddenly, people are like, ‘Wow, leaving crypto on the exchanges is actually dangerous,'” Gauthier told Irrera.” And 2023 is an even better year for us.” Because now you can’t even leave money in Swiss banks.
Ledger’s funding follows the announcement of Ledger Stax, a new crypto hardware wallet designed by iPod creator Tony Fadell. The news also follows the announcement of a new 1inch hardware wallet and Coinkite’s higher-end Coldcard device. Additionally, hardware wallet competitor Trezor revealed last month that it is controlling chip production.
In Thursday’s report, Ledger Chief Experience Officer Ian Rogers said that the Internet has changed the way people perceive value. In a statement, Rogers said, “The Internet was a revolution in information, but now it is creating a revolution in value.” From speculation to NFTs, digital collectibles, digital tickets, digital memberships, and ultimately digital identities.”
The future of hardware wallets in the cryptocurrency industry and to meet the needs of crypto investors and traders, How do you think hardware wallets will continue to evolve? Let us know your thoughts in the comments section below.
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