News

Crypto Wallet Manufacturer Ledger Values at $1.4 Billion

Ledger, the manufacturer of cryptocurrency wallets, announced a new round of attracting investment funds for the expansion of the C series.

Crypto Wallet Manufacturer Ledger Values at $1.4 Billion

Source: Pixabay.com

This company offers customers hardware wallets that store the private keys of crypto users on a secure device. Private keys are isolated from the computer and smartphone, in respect of which there is a potential risk of hacking.

After receiving additional funding, Ledger will be able to provide these wallets to more consumers from hundreds of millions of users of digital assets and blockchain-enabled technologies. This is stated in a statement by Pascal Gauthier, chairman of the board and chief executive Officer of Ledger, which was published on the company’s website.

Pascal Gauthier says that last year turned out to be very difficult for the cryptocurrency industry. The most significant events in this regard, according to him, were the falls of the largest crypto exchanges and the transformation of the macroeconomic landscape. He noted that in unfavorable external conditions, Ledger demonstrates high stability and growing adoption of hardware and services in its business.

The company has already attracted most of the expected investment funds in the amount of 100 million euros. The second stage of financing is scheduled for April. There is also a third stage of attracting investment funds, the date of which has not yet been announced.

The cost of the previous fundraising amounted to 1.3 billion euros, which corresponds to the amount received in June 2021 during another round. In an earlier round, the company raised $380 million. Then the firm said that these funds would ensure the security of 15% of all assets in digital currency around the world.

Speaking about the future of the financial industry on a conceptual level, Pascal Gauthier said that the Internet of Values will change people’s approach to asset ownership and management. He also believes that over time, the approach to interacting with the Internet will become different.

Last December, the company presented the Ledger Stax wallet, which was developed by former Apple executive Tony Fadell, who participated in the creation of the iPod and iPhone. This product differs from earlier wallets, which had the form of USB drives. Ledger Stax has a curved spine and a display with electronic ink.

As we have reported earlier, Paytrix Secures $18.3 Million Series A Funding.

Serhii Mikhailov

2376 Posts 0 Comments

Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.