Samsung, the South Korean mobile and smartphone Giant, has reportedly invested $2.9 million in hardware wallet manufacturer, Ledger. Reportedly, the total valuation of the start-up is now about $290 million after the latest capital fundraising event.
Ledger is a Paris based firm that is building security and infrastructure solutions for cryptocurrency use. Ledger was found in 2014. Currently, it has over 130 employees in three locations: Paris, Vierzon and San Francisco.
According to sources, the investment was confirmed by the Executive Chairman of Ledger, Eric Larcheveque. However, he abstained from making any comments.
Nevertheless, he sent a tweet to the publication which broke the news:
“We will always need hardware wallets, but to accompany a revolution crypto based on a personal sovereignty accessible to all, the Smartphone will actually play a central role.”
The most popular product from Ledger is the Ledger Nano S Hardware Wallet. The Ledger Nano S provides a private, secure wallet for over 23 cryptocurrencies. It resembles a flash drive and cost less than $100. The firm also offers infrastructural solutions like crypto vaults for institutions and banks.
Samsung has actively taken heed for the implementation of blockchain and cryptocurrency within the firm since 2018. Samsung, which released its flagship smartphone with an in-built secure cryptocurrency wallet and Dapp support is one of the first major mobile manufacturers to rolls out crypto-wallets.
Do you think other Mobile companies like Apple, Huawei, Nokia, and Motorola will follow Samsung’s pursuit before its too late? Please share your views with us.
Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com