Key Insights
- Ledger unveils new Flex hardware wallet at Bitcoin 2024 conference, featuring E-Ink touchscreen technology.
- Priced at $249, Flex integrates with Ledger Live app and supports multiple blockchains and tokens.
- Despite past controversies, Ledger maintains market leadership with over 6 million wallets sold.
NASHVILLE, Tenn. (MarketsXplora) – Cryptocurrency security firm Ledger showcased its latest hardware device, the Ledger Flex, at the Bitcoin 2024 conference in Nashville on Friday, marking another milestone in the company’s decade-long journey in the digital asset security space.
The Flex, priced at $249, features Ledger’s proprietary E-Ink touchscreen display technology, a design element shared with its predecessor, the Ledger Stax. This technology aims to enhance user navigation without compromising the device’s security features.
Ledger Chairman and CEO Pascal Gauthier, speaking at the conference, emphasized the company’s commitment to innovation.
“After a decade of setting the standard for security and self-custody in crypto and digital assets, I’m proud to say we’re raising the bar again,” Gauthier stated.
The French company, founded in 2014, has established itself as a leader in the cryptocurrency hardware wallet market, having sold over six million devices to date. Ledger claims its products now secure more than 20% of the world’s digital assets.
The Flex integrates Ledger’s “Secure OS” operating system and connects to the Ledger Live mobile and desktop application. This app has partnerships with various providers including Moonpay, Coinbase, PayPal, and Lido, offering users access to buying, selling, and other crypto financial services across 70 blockchains, 200 decentralized applications (dApps), and 10,000 tokens.
Ledger’s product line now spans a range of price points, with the Flex positioned between its lower-priced Nano series and the high-end Stax. The Nano S Plus retails at $79, while the Nano X is priced at $149. The Ledger Stax, designed by former Apple executive Tony Fadell and priced at $399, began shipping in May after facing production delays.
Despite its market success, Ledger has faced challenges. In 2023, the company’s introduction of the Ledger Recover service sparked controversy among crypto enthusiasts who viewed it as a potential security risk. The service, designed to help users recover lost keys or seed phrases, involves re-encrypting and splitting users’ private keys between Ledger, crypto security firm Coincover, and an independent backup service provider.
This controversy followed a 2020 data breach that exposed nearly 10,000 customers’ email addresses, damaging the firm’s reputation for security.
Nevertheless, Ledger has maintained its market position. In early 2023, despite challenging market conditions, the company secured $100 million in funding, preserving its $1.5 billion valuation.
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