Hardware wallet company Ledger announces Visa cryptocurrency debit card – DiarioBitcoin

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Hardware wallet company Ledger announces Visa cryptocurrency debit card - DiarioBitcoin For Hannah perez

The new Ledger card is expected to launch in early 2022 for users in the European Union and later arrive in the United States.

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The hardware wallet manufacturer, Ledger, is launching a new digital currency debit card called ‘Crypto Life‘.

The company announced the new product this Thursday during the conference Ledger Op3n, held in Paris. According to the presentation, which was cited by various news outlets, it is a card Visa issued in association with Baanx, a fintech company will provide program management and infrastructure for the new product.

The official Twitter account of Ledger, who has been covering the event, reported:

We are launching the Crypto Life card, powered by Ledger, in partnership with BaanxGroup. You will be able to manage your crypto life through your wallet Ledger, convert to fiat at the time of purchase and more.

The card will allow users to pay with cryptocurrencies to more than 50 million online retailers and stores, he said Ledger in a press release that was quoted by CoinDesk.

Ledger launches new Visa card

Users will be able to use the new credit card Ledger to directly spend your cryptocurrencies on purchases or use them as collateral for cash credits. In particular, Holders may request a line of credit for 30 days, depending on the digital currency they have, with interest rates ranging from 0%. Rates will depend on jurisdiction.

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The Vice President of Payments for Ledger, Iqbal Gandham, also added that users will be able to transfer cryptocurrencies to the card through the platform Ledger Live, which connects to devices Ledger via cable or Bluetooth, depending on the device. Ledger It will then convert the crypto funds to fiat directly from a point of sale for payment to merchants.

As such, the card will support a handful of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin cash (BCH), XRP, as well as stablecoins Tether (USDT), USD Coin (USDC); among other.

The new Visa product is part of a broader effort by Ledger to transform itself from a wallet manufacturer into a cryptocurrency platform with a vision for the payments sector. “We need to start focusing on spendingGandham commented as quoted The Block.

According to reports, the card ‘Crypto Life‘It will initially be available to customers in the United Kingdom, France and Germany during the first quarter of 2022. By the second quarter of next year it will be launched in the US market. For the moment, Ledger has invited interested persons to register for a waiting list.

NFT and other expansion announcements

During Thursday’s event, the wallet maker also made other prominent announcements. Among them, Ledger presented an update of its popular model Ledger Nano S. The new version, the Nano S Plus, will provide improvements over its previous version, including greater memory capacity. The company also indicated that it is working on another hardware project that could be announced in 2022 or 2023.

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On the other hand, Ledger indicated that it is working to make the shipment of tokens non-fungible (NFT) between wallets is more secure. As quoted The Block, Charles Hamel, Vice President of Product for Ledger, said on stage that the developers are working to make the NFT transactions more detailed so that users do not have to sign the transactions “blindly“.

In another prominent announcement for collectibles users, the company said it has integrated the NFT market Rare in Ledger Live, so the owners of Ledger they will now be able to buy and sell NFT while using the hardware wallet.

The company’s multiple announcements come after Ledger will raise USD$ 380 million earlier this year in a funding round. At that time the firm had already advanced plans to expand its services.


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Sources: Twitter, The Block, CoinDesk,

Article by Hannah Estefanía Pérez / Daily bitcoin

Image from Unsplash

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