Samsung Ploughs $2.9 Million into Crypto Hardware Wallet Giant Ledger
By CCN.com: Samsung, South Korea’s biggest conglomerate and one of the world’s largest brands, has invested $2.9 million in crypto hardware wallet manufacturer and custodial service provider Ledger in a high-profile deal.
The multi-million dollar investment in Ledger by Samsung comes less than a week after Samsung Ventures led a $4 million round in ZenGo, a startup developing keyless crypto wallets.
On aura toujours besoin de hardware wallets, mais pour accompagner une révolution crypto basée sur une souveraineté personnelle accessible à tous, le smartphone va effectivement jouer un rôle central.
— Eric Larchevêque (@EricLarch) April 24, 2019
The commitment of Samsung in the crypto sector is likely to act as a catalyst that recovers the confidence of investors in the long-term prospect of the market.
Why Samsung is Heavily Investing in Crypto Wallets
Earlier this week, CoindeskKorea, a crypto publication operated by mainstream media outlet Hankyoreh, reported that Samsung is reportedly testing Samsung Coin and an ERC20-based blockchain protocol on top of the Ethereum blockchain.
“Blockchain task force made several models and are evaluating [them]. There are already several platforms that are functioning after some internal tests,” a company insider told local publications.
If Samsung has planned to launch its own crypto asset all along, its relatively aggressive move to integrate a crypto wallet into the Galaxy S10 during a period in which most major smartphone manufacturers are cautiously observing the market becomes more sensible.
