Cryptocurrency wallet maker Ledger made a series of announcements during its Ledger Op3n conference in Paris this Thursday (9).
In addition to advertising its new debit card with support for crypto assets, the company informed about several important partnerships with important players in the market, such as Coinbase and FTX.
According to the vice president of payments at Ledger, Iqbal Gandham, the company needs to “start focusing on spending”.
Crypto Life Card
Ledger’s debit card was named Crypto Life. It will bear the Visa brand and will be issued by Baanx, an affiliate of Contis Financial Services.
In practice, the card will support a variety of cryptocurrencies. In addition, users will be able to track it through Ledger Live, the software that comes with Ledger hardware portfolios.
The official launch of the card has not yet taken place, but Ledger has started a waiting list.
As highlighted by Gandham, the card’s resources will be converted into cryptocurrencies at the point of sale. Or, cardholders can apply for an interest-free line of credit for 30 days, based on their cryptocurrencies.
The executive also added that, at the beginning of 2022, holders will be able to receive their salaries in their accounts and automatically convert them into cryptoassets.
According to the company, credit line rates will be as low as 0%. However, the offer of credit will be limited to certain regions.
Coinbase Wallet Adds Ledger Support
Ledger also announced at the conference an important partnership with Coinbase. The exchange’s no-custodial wallet, the Coinbase Wallet, now supports Ledger as its first hardware wallet.
This will provide an alternative to Ledger Live that will allow users to interact with blockchain applications through the browser and still use their hardware portfolio.
Max Branzburg, VP of Product at Coinbase said in a video shown at the event that the platform is building support for hardware wallets directly into its non-custodial wallet.
FTX Integration in Ledger Live
Ledger also announced that it is expanding its internal trading options by introducing FTX.
With this, portfolio owners will be able to transfer assets to the exchange through Ledger Live. In the meantime, they will be able to continue trading in the app.
However, negotiations will be more expensive through this service. After all, Ledger adds an extra fee to these trades.
NFTs and partnership with Rarible
Also at the conference, Charles Hamel, vice president of product at Ledger, showed that the company is also focused on NFTs.
According to him, Ledger intends to solve the problem of signing “blindly” in transactions with non-fungible tokens.
The executive explained that when users make an NFT transaction, they don’t see what data they’re agreeing to share.
In this sense, Ledger’s alternative is to decompose the transaction and present what is happening on your mobile app at the time of signing.
Hamel gave a demonstration on stage where the app provides details including the destination address and the token sent.
Another novelty announced by Ledger was a partnership with Rarible, which will be integrated into Ledger Live. This will allow portfolio owners to access the NFT market while executing transactions.