Samsung Invests $2.9 Million in Crypto Hardware Startup Ledger

South Korea’s technology giant Samsung has invested 2.6 million euros ($ 2.9 million) in Ledger.

The investment gives startups a value of $ 29 million, the French business magazine Capital reported today. A spokeswoman for Ledger confirmed that Samsung had returned the start-up, but could not confirm further details. A Samsung representative did not respond to a request for a press comment.

The news, along with Ledger to promote Pascal Gauthier to the CEO, tracks previous rounds by the company, including raising $ 7 million in Series A in 2017 and $ 75 million in Series B in 2018. It is unclear whether Samsung’s investment is part of A large round of recruitment.

The former CEO of Ledger and founder of the company, Éric Larchevêque, confirmed the investment but declined to comment.On Twitter, Larchevêque allegedly confirmed the news also, says one tweet (translated from French) that “we always have hardware wallets, but to borrow a crypt A revolution based on personal sovereignty is accessible to all, the smartphone will actually play a major role. “

According to his bio Twitter, Larchevêque is now the chairman of Ledger’s board.

Reasonable adjustment
Ledger currently works with various banks and other companies to offer several custody options. The custody venture with the Japanese bank Nomura is expected to launch by 2020, while the hardware developer is collaborating simultaneously with the Hong Kong Legacy Trust authorized to offer custody services for ethereum-based chips.

For its part, Samsung recently stormed into encryption space and blockchin. It recently announced that the upcoming new line of flagship smart phones – the Galaxy S10 series – will feature wallet functionality and crypto. And the company is now said to be working on its own unique blockkin based on ethereum.

Indeed, Samsung can someday issue its own token, according to Korean CoinDesk.

Ledger confirmed Samsung’s investment on Thursday, in a statement:

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