Hardware wallets are becoming the safest way to store cryptocurrencies, as opposed to online wallets that are susceptible to hacking. To help attract even more customers, major companies including Siemens, Samsung and Google have expressed interest in working with Ledger, a manufacturer and developer of a cryptocurrency hardware wallet.
In 2017, French company Ledger sold more than 1 million hardware wallets, making a profit of $29 million.
Earlier this year, Ledger raised $75 million thanks to major venture capital investors, despite the fall of the cryptocurrency market and a difficult first quarter for the crypto industry as a whole.
After last year’s impressive financial results and the pace of increasing device sales, the company is counting on another successful round of investment. Technology conglomerates Samsung, Siemens and Google are already considering participating in a second round of Series B funding. This round would allow interested companies to sign contracts with Ledger. In this case, Ledger could become the first entity in Europe to offer such a service.
Google, Samsung and Siemens are major players in the retail world, so their interest in using hardware wallets means the direction is promising and profitable. At one time, Ledger became a revolutionary catalyst in the market, creating one of the most secure hardware wallets that protect cryptocurrency from hackers.
The Ledger wallet is designed to work with more than 30 different virtual currencies on the market. The so-called “French safety kit” is very popular.
The company is now committed to addressing the long-term future of the ecosystem to allow even large institutions to use crypto assets without relying on third-party storage systems.
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