Hardware wallet Ledger has unveiled a series of product developments including crypto debit cards, a new hardware wallet, partnerships with cryptocurrency exchanges FTX and Coinbase and NFT support via Rarible.
The leading announcement made by Ledger at Ledger Op3n was the introduction of a native debit card called ‘The Crypto Life “CL” Card.
The CL card will allow Ledger users to spend their crypto assets without selling them, and to receive their paycheck in crypto using the hardware wallet from next year. A 30-day interest-free line of credit can also be opened using the companion app.
It will integrate ‘seamlessly’ into Ledger Live – the software companion to Ledger Nano Hardware Wallets which allows users to track their portfolios, access DeFi and NFTs and buy and sell their assets.
The card will be available in Q1 2022 in the UK, France and Germany and Q2 2022 in the United States. Ahead of its launch, a waitlist has been established for those eager to own a CL card.
Exchange integrations
Ledger is bolstering its relationships with exchanges through partnerships with FTX and Coinbase.
FTX and Ledger partnered to enable trading through Ledger Live, which allows the users of the companion app to utilise “FTX’s liquidity, leverage and trading options”.
“This is an important innovation in crypto trading,” said FTX founder and CEO Sam Bankman-Fried.
“Investors are looking for increased security and self-custody solutions without sacrificing liquidity, leverage and trading options. The partnership between FTX and Ledger addresses this pain point for the marketplace, by providing quick access to trading while assets remain fully secure.”
Its partnership with Coinbase introduces safer self-custody options for Coinbase Wallet users. Being released in phases throughout Q1 2022, the integration enables users of the Coinbase Wallet browser extension to self-custody their digital assets within Ledger hardware wallets.
In later phases of the partnership, the Coinbase mobile app will also support Ledger hardware wallets. In addition, the collaboration will include educational and marketing efforts from both Ledger and Coinbase.
“Self custody is the future,” said Coinbase CEO Brian Armstrong.
A panel discussing Web3 communities at Ledger Op3n
Improved NFT support
Next on Ledger’s list is wider support and functionality with NFTs on hardware devices via integration from NFT marketplace Rarible.
Through the integration, users will be able to connect their Ledger wallets to Rarible and view, send, receive and manage their NFTs directly within the Ledger Live companion app from December 2021. In addition, a unique ‘Discover’ section curated by Rarible will be added to Ledger Live in January 2022.
“Our integration with Ledger marks a major milestone in our mission to improve how users interact with their NFTs, and will provide NFT holders with an increased sense of comfort knowing their digital collectables are safely stored,” said Alex Salnikov, co-founder and head of product of Rarible.
The latest model
The final announcement made by Ledger was the introduction of a new hardware wallet – The Ledger Nano S Plus.
The Nano S Plus improves on the previous ‘Nano S’ model with a “larger and higher-quality” screen alongside more flash memory to support additional plugins and apps focused on Defi and NFTs.
Released early in 2022, the Nano S Plus will be equipped with the ‘ST33K1M5C‘ security element, which allows developers to load and test their applications directly onto the wallet.
“The Nano S is the standard issue, the OG best in the business. The Nano S Plus is the new gold standard (pun intended),” said Ian Rogers, CXO of Ledger.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.