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Home»ADOPTION NEWS»Ledger Unveils Latest Hardware Wallet Amid Product Line Revamp
ADOPTION NEWS

Ledger Unveils Latest Hardware Wallet Amid Product Line Revamp

By Crypto FlexsJuly 28, 20243 Mins Read
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Ledger Unveils Latest Hardware Wallet Amid Product Line Revamp
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Cryptocurrency security company Ledger has unveiled its latest hardware device, the Ledger Flex, on stage. Bitcoin Bitcoin

-0.63%
The conference will be held in Nashville, Tennessee in 2024.

Like the France-based company’s previously released Ledger Stax wallet, the new device uses Ledger’s trademarked E-Ink touchscreen display technology to make the device easier to use without compromising security.

“After a decade of setting the standard for security and self-custody of cryptocurrencies and digital assets, we are proud to say that we are raising the bar once again,” said Pascal Gauthier, Ledger Chairman and CEO.

So-called “cold storage” wallets have little to no interaction with the internet, but they are one of the safest options for storing cryptocurrencies, especially in the long term.

Ledger, a retail brand founded in 2014, has sold over 6 million hardware wallets and backs up the keys to more than 20% of the world’s digital assets, according to a company press release.

In addition to integrating Ledger’s “Secure OS” operating system, Flex also connects to the mobile and desktop app Ledger Live. To date, the app has integrated with providers including Moonpay, Coinbase, PayPal, and Lido, facilitating buying and selling and other cryptocurrency financial services across 70 blockchains, 200 dApps, and 10,000 tokens.

At $249, the Flex is one of Ledger’s more expensive devices. The two devices in the “Nano” series start at $79 for the Nano S Plus, while the Nano X sells for $149. The much-anticipated $399 Ledger Stax, designed by “godfather of the iPod” Tony Fadell, began shipping in May after production delays.

Last year, Ledger was embroiled in controversy after it unveiled its Ledger Recover service, which was designed to give users who had lost their keys or seed phrases a better chance of accessing their funds. Critics saw it as a potential backdoor, as it re-encrypted and split users’ private keys between Ledger, cryptocurrency security firm Coincover, and an independent backup service provider.

This came next Data Breaches in 2020 This resulted in nearly 10,000 customer emails being exposed and damaging the security company’s reputation.

Despite challenging market conditions in early 2023, Ledger closed a $100 million funding round and maintained a $1.5 billion valuation.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Current financial disclosures include:

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

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