A new hardware crypto wallet designed by the inventor of Apple’s iconic iPod is reportedly coming to market.
According to a new report from CNBC, iPod maker Tony Fadell designed the crypto wallet for French startup Ledger, which plans to start selling the credit card-sized device for $279.
Ledger is calling the new product the Ledger Stax and has opened preorders with expected shipping in early 2023.
“This reminds me a lot of the iPod.”
The product was unveiled this week at the company’s annual Ledger Op3n event.
According to the report, the device weighs 45 grams less than an iPhone and uses an E-ink display. Consumers can use it to deposit or exchange a number of different cryptocurrencies, including king crypto Bitcoin (BTC), smart contract platforms Ethereum (ETH) and Solana (SOL) as well as non-fungible tokens (NFT).
There are magnets in the devices so that people can stack them on top of each other, which is why the product is called Stax. People can connect it to their laptop via USB cable or to their phone via Bluetooth.
Ledger says their devices have become more popular due to the implosion of the crypto exchange FTX and consumers wanting to keep their digital assets in-house.
Says Pascal Gauthier, CEO of Ledger,
“All the news you’ve seen since the beginning of the year, from Celsius to FTX, has really pushed a lot of users into self-preservation.”
Ledger believes their devices will become more popular with the increasing adoption of digital assets.
Says Ian Rogers, Chief Experience Officer of Ledger,
“There is no doubt about the need for security and there is no doubt that we are increasingly living online. Instagram, Nike, Starbucks, Amazon – many companies are finding real-life use cases for digital assets. And so I think we will grow with that.”
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Featured image: Shutterstock/Ilya_Levchenko/Sensvector