Demand is growing for hardware wallets and Ledger is looking to respond. The French firm aims for an additional $100 million to help it continue its rapid expansion.
Having raised a mammoth $380 million funding at a $1.5 billion valuation in June, French cryptocurrency hardware wallet maker Ledger is looking to raise an extra $100 million,in a funding round led by 10T Holdings. Now, according to reports, the company is seeking an additional $100 million to help it continue its rapid expansion. Business is said to be thriving as investors seek cold storage for their cryptocurrency, according to sources quoted by Bloomberg.
Hardware storage wallets from Ledger are a type of offline storage that isn't connected to the internet, making them more secure against hacking than online wallets. This allows users to manage their own cryptocurrency without worrying about their provider's liquidity. The company's products have been popular in recent years as investors seek to protect their digital assets from the
that have plagued the cryptocurrency industry recently. Ledger's business is reportedly expanding at a time when lenders and exchanges are experiencing liquidity concerns, according to Bloomberg's source.
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