Breaking: Samsung Invests 2,6 Million in Crypto Startup

The South Korean technology giant Samsung has become a member of the latest funding round of the leading manufacturer of hardware wallets Ledger, having invested 2.6 million euros. According to the journalist of a local portal Capital, these investments are only the beginning.

As the round ended successfully, the value of a cryptocurrency startup rose to 260 million euros. While Samsung’s contribution was only 1% of the total project cost, this step is a direct confirmation of the fact that the technology giant is interested in blockchain technology. Earlier this year, Samsung presented its new flagship device, Galaxy S10, with a built-in cryptocurrency wallet.

Ledger CEO Eric Larshevek initially refused to comment on Samsung’s entry into his company’s capital. But to the comment of one of Twitter users that hardware wallets may soon become outdated, he said that the demand for hardware wallets will not disappear anywhere, as well as for smartphones.

At the moment, the most successful development of the Ledger is the Nano S model. Now the company is working on the release of its successor, Ledger Nano X, with Bluetooth support and advanced smart card technology.

It wasn’t easy for the company to fit in the bear market, they even had to dismiss a lot of workers earlier in April, but this investment round could become its “lifeline”, allowing the company to continue its development in a niche of hardware solutions for cryptocurrency.

We want to remind you:

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