Ledger Raises $380 Million for Its Encryption Hardware Portfolio – TechCrunch

Ledger Raises $380 Million for Its Encryption Hardware Portfolio – TechCrunch

With today’s funding round, the company plans to launch new products, add more DeFi features to Ledger Live and support the growth of the crypto ecosystem in general. It hasn’t been a smooth ride as the company has been around for seven years. After the crypto boom of 2018, interests for hardware wallets faded away. Moreover, as the company secures expensive assets, it has also suffered from a serious data breach — 272,000 customers have been affected. Source techcrunch.com

The company first launched the Ledger Nano S. You have to connect the device to a computer using a USB cable. More recently, with the Ledger Nano X, you can send and receive assets from your phone as the Nano X works over Bluetooth. Ledger also provides an enterprise solution for companies that want to add cryptocurrencies to their balance sheet. In other words, if you want to store large amount of cryptocurrencies, you don’t want to leave them on an exchange account. If someone manages to sign in, they could withdraw all your crypto assets. With a hardware wallet, you remain in control of your crypto assets.

Overall, Ledger has sold over 3 million hardware wallets. Every month, 1.5 million people use Ledger Live, the company’s software solution to manage your crypto assets. The company even says that it currently secures around 15% of all cryptocurrency assets globally. Ledger’s main product is a hardware wallet to manage your crypto assets. They are shaped like USB keys and feature a tiny screen to confirm transactions on the device. The reason why that screen is important is that your private keys never leave your Ledger device.

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