The Ledger Company, today, in its two day long bi-annual open conference in Paris, has launched its unique crypto debit card and revealed its partnership with various cryptocurrency service providers in the industry.
Cold wallet hardware manufacturer, Ledger, today in Paris, has made astonishing series of revelations, ranging from its partnership with world’s leading exchange platform, Binance Global Inc., to the launch of its unique crypto debit card.
Ledger has partnered with a number of ‘giants’ in the crypto industry. As of now the company has partnered with Coinbase, world’s leading crypto exchange platform, Rarible, an Open Source, cross-Chain community governed NFT protocol, and FTX, another world leading crypto derivatives exchange.
The highlight of the revelation today, is the company’s unique debit card which it calls Crypto Life card. The intention of this new set up according to Iqbal Gandham, vice president of Ledger, is to provide an easy avenue for its customers to spend their ‘wealth’, one that is stored virtually and physically in the form of cryptocurrency.
The Crypto Life card accommodates transactions for a host of cryptocurrencies. Transactions made by users are tracked on and made available to the public on Ledger Live, the company’s intelligent software. Ledger has imitated manufactures in other industries by creating a waitlist in preparation for the launching of Crypto Life card. The waitlist has been kickstarted and is accessible through their database.
In his speech, Gandham claimed that the card’s default storage option is cryptocurrency tokens and that card users that want their wealth in relevant centralized currencies can request for it, through the available service. The whole process is interest free, according to him.
Ledger anticipates that by early 2022, Crypto Life card owners will be able to receive their wages directly into their personalized accounts and have it automatically converted to cryptocurrency.
In its partnership with Coinbase, it intends to facilitate the exchange’s expansion and integration of cold wallets into its network. The partnership will see Ledger avail it’s services and expertise for the exchange during this comprehensive upgrade. The two companies in a joint statement released yesterday, the first day of the two day long bi-annual conference, announced that deployment of cold wallet enabled Coinbase mobile apps will be rolled out early next year. The timeline for the development according to the announcement will be the first quarter of next year, 2022. The upgraded products will be released in batches later on.
Ledger aims to create a safer environment for transacting NFTs between wallets
It is a well-known fact that NFT transactions are very obscure, not as transparent as cryptocurrency transactions ,where complete transaction details are made available to users. NFTs when transacted do not leave an understandable footprint for users to decode. According to Charles Hamel, vice president of products at Ledger, Ledger’s collaboration with Ripple is aimed at tackling this problem.
The Ledger solution makes use of complex mathematical algorithms to break down the transactional data and present an understandable detail to users through its mobile app. He backed these claims by presenting a demonstration during his speech.
The collaboration with Ripple allows its users access the NFT marketspace to buy and sell NFTs using their cold wallets directly.
Ledger Live, Ledger’s cryptocurrency trading space has expanded its local trading options with its collaboration with FTX. This allows Ledger cold wallet users to transfer assets to and fro, from their wallets to the crypto derivatives exchange for trading, through their Ledger Live accounts.