Ledger wallet to extend its stablecoin support

Victoria SavchukOctober 31, 201820

Ledger, popular crypto hardware wallet, will enlist new stablecoins and integrate Tether (USDT) in all company’s products.

Now the well-known stalblecoin is supported on popular devices Nano S and Blue. In a while the company plans to implement USDT in a custodian service targeted at institutional investors.

Benjamin Soong, new Ledger’s operational manager for Asia-Pacific region, is assured that even in view of extremely high volatility of Tether recently, this stablecoin does not lose its popularity.

“There is a demand on USDT in China and South Korea, and that is unique,” marked Soong.

As he states, it can be connected to the fact that authorities control the capital movements. The data residents like the possibilities this USD-backed stablecoin gives. Apart from that, he underlined that nearly 30% of Ledger sales revenue comes from Asian markets.

Apart from USDT and DAI token by MakerDAO project, Ledger wants to add other stablecoins in the near future. In the framework of curstodian development, by the end of this year the company plans to add support for over 100 different coins.

Today, October 31, has marked the opening of a new Ledger office in Hong Kong.

Other important news from the Cryptocurrency world and Blockchain

We wrote earlier that LedgerX will discuss the Ethereum-derivatives launch with regulators.


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Victoria Savchuk