Ledger, leading hardware crypto wallet manufacturer and developer, sold more than a million of its multi currency crypto hardware wallets.The company earned $ 29 million.
Ledger Crypto Hardware Wallets
In an interview with Forbes, the president of the French company Pascal Gauthier said that the company plans to attract additional funding to implement further plans.
He also expressed the opinion that the growing popularity of this type of wallets is primarily due to the insufficient security of the platforms used to sign transactions on a public blockchain.
“Blockchain itself is secure, but signing on the blockchain is a flaw. If you lose the private key, there’s no bank looking after your assets or any way to recover them,” said Gauthier.
According to him, now the company has already created a product “in the style of Nano S” for institutional investors – Ledger Vault. It enables the staff of a hedge fund or family firm to have access to one crypto hardware wallet with different restrictions or conditions. For example, you might need to use two physical keys to commit a transaction, or you can delay the transaction.
Pascal Gauthier also spoke about the more ambitious goal of the company – the decision on a full custodian security, where large financial institutions will be able to store their cryptocurrency assets. The Komainu project is implemented jointly with the Japanese financial giant Nomura and Global Advisors.
In January, Ledger raised $ 75 million of investment during the Series B funding round , which was held under the leadership of Tim Draper’ the venture company Draper Esprit. The main participants were venture funds. Now the French company is aiming for a “second phase” of a series of financing, in which, according to Gauthier, “major industrial partners” will take part. He refused to name them. But, according to Forbes, it’s about Siemens, Samsung and Google.
Ledger directed the proceeds to improve its infrastructure and create products for retail traders and investors.
Ledger company believes that there is a need to create an ecosystem that will allow even large investors to ensure the safety of their savings in cryptocurrencies without having to deposit them to third-party services.
Gauthier hinted that Ledger Nano S for business can up to the task.
Why is it important to store crypto asstes in crypto hardware wallets
The security of asset storage remains to be a highly pertinent topic in the crypto community. Since the beginning of the year, crypto exchanges suffered from hacker attacks – Coincheck, Bithumb and Coinrail. Coincheck lost $ 500 million in NEM tokens stored on a hot wallet.
Crypto hardware wallets are more reliable device for storing digital money compared to exchanges or web wallets. Only the user has access to the device. Therefore, such wallets are very popular, especially among those who keep large amounts in the crypto currency.