Crypto wallet maker Ledger has announced its intention to launch its hardware crypto wallet called Ledger Stax, which was designed by iPod inventor Tony Fadell.
The mentioned product will be launched in May of the current year. Ledger Stax was first announced in 2022 during the period of a sharp drop in cryptocurrency prices associated with the collapse of the FTX crypto exchange.
Ledger specializes in making hardware and software wallets for investors in digital currencies.
Ledger Stax will provide users with the ability to track crypto assets on an E-ink display, similar to the technology used by Amazon in its Kindle line of e-book readers.
Pascal Gauthier, CEO of the company, said during a speech at the Blockworks Digital Assets summit in London that he expects the hardware crypto wallet to be launched soon. He stated that the debut of the mentioned product will take place in two months.
Over the past year, Ledger Stax has faced a series of shipment delays due to issues with getting its E-ink display to work smoothly. The media also reports that the hardware crypto wallet has encountered bottlenecks in production.
Moreover, Ledger has faced a lot of complaints from users related to the delayed launch of a new product. Pascal Gauthier says that the main reason for the late debut of the hardware crypto wallet is an attempt to get its E-ink display to wrap around the device.
An anonymous spokesperson Ledger said that the exact delivery timeline of the new product to customers will be made public by the end of the current month. In this context, it was noted that the company’s team of specialists is working around the clock to improve the yield of hardware crypto wallet displays and has been able to make progress within the framework of appropriate efforts.
A spokesperson Ledger stated that Pascal Gaultier shared a best-case timeline, according to which pre-orders will begin shipping in the spring. This insider noted that by the end of March, the company will have a full update for customers. In this case, it means those consumers who have made pre-orders.
A spokesperson Ledger stated that the debut of the hardware crypto wallet is the beginning of a big year for the company.
The new product, which costs $279 and is available for pre-orders from the end of 2022, will resemble a small smartphone or credit card reader. The Ledger Stax is 85 millimeters long and 54 millimeters wide. These figures roughly correspond to the size of a credit card. The weight of the Ledger Stax is about 45 grams, which is less than the weight of the iPhone.
Users of the hardware crypto wallet will be able to deposit or exchange various tokens, including bitcoin, ether, cardano, solana, and nonfungible tokens, or NFT. Ledger Stax was also equipped with magnets that allow users to stack multiple devices on top of each other, like a pile of books or cash.
Users will be able to connect a hardware crypto wallet to their laptop via a USB cable or to a mobile phone via Bluetooth. Pascal Gauthier stated that this product was designed in such a way that it was much easier to use compared to other similar modern devices. He also stated that Ledger has a reliable ecosystem of suppliers that ensures that the hardware crypto wallet will be ready for general launch by May.
As we have reported earlier, Goldman Sachs Reports Increasing Interest in Cryptocurrency.
