On Dec. 6, the firm announced its latest product, the Ledger Stax. The new hardware wallet was developed in partnership with iPod co-creator Tony Fadell.
The credit card-sized touchscreen device allows users to manage over 500 digital assets. It can also hold NFT collections and integrate with a number of Web3 apps through the Ledger Live app.
Connectivity also extends to smartphones via Bluetooth, the announcement added. The new wallet ships in March 2023, but interested customers can pre-order one at a hefty $279.
Building the iPod of Crypto
In an Apple-Esque promotional spiel, the company touted curved E-ink displays and “unmatched energy efficiency.” Furthermore, integrated magnets make the devices stackable for customers that need more than one.
Ledger CEO Pascal Gauthier boasted that the Nano series had sold 5 million and “none ever hacked,” adding.
“The time is now for a device for more mainstream users. At the same time, we must not compromise on security.”
The company claims that the new wallet is “built on trust.” However, Ledger was embroiled in a massive data breach scandal in 2020 that resulted in some customers losing funds.
It refused compensation for any scammed or phished customers. Even after it revealed that the data stolen was from company servers.
Despite the dodgy data dealings, hardware wallets have seen adoption increase as crypto investors become wary about centralized exchanges. Furthermore, the move to self-custody accelerated after the FTX exchange’s collapse.
Designer Tony Fadell added:
“We need a user-friendly…no! A ‘user-delightful’ tool, to bring digital asset security to the rest of us, not just the geeks.”
Fadell was senior vice president of the iPod division at Apple Inc., joining the firm in 2001.
Ledger: The Apple of Crypto?
Ledger’s Chief Experience Officer, Ian Rogers, added, “Tony Fadell has both the circuit board and the billboard in mind when he builds a product.”
His vision is to turn the firm into the Apple of crypto, with the new wallet being its “crypto iPod.” The promotional material certainly sounds like something straight out of an Apple marketing manual.
“With Ledger Stax we have made a device which is cool, beautiful, and fun,” he said.
Ledger launched the staking of ETH and DOT via its Enterprise platform in November.