Samsung Invests $2.9 Million In Crypto Hardware Startup Ledger
We recently reported that Samsung is making some pretty impressive and exciting moves in the crypto space.
Samsung’s Galaxy S 10 has been launched with an integrated crypto wallet, and enthusiasts found out that the wallet was not supporting Bitcoin as it was initially believed.
On the other hand, the wallet came with support for Ethereum (ETH) and Ethereum-based tokens.
Samsung is working on launching its own crypto and mainnet
More than that, according to the latest reports, Samsung is now reportedly gearing up to launch its very own crypto asset and mainnet that’s based on the Ethereum blockchain.
It seems that at the moment, the development is still in the early stages.
Now, CoinDesk comes with fresh news and reports that the South Korean tech giant has invested 2.6 million euros which is about $2.9 million into crypto hardware startup Ledger.
The online magazine cites the French business magazine Capital and says that this investment gives the startup a valuation of about $290 million.
Samsung invests in Ledger
Also, a spokesperson for Ledger has confirmed that Samsung backed this startup, but they reportedly could not confirm any more details on the subject.
Also, CoinDesk reported that a Samsung rep didn’t respond to their request to comment on the issue so far.
The news comes when Ledger is promoting Pascal Gauthier to CEO and after previous funding rounds by the company.
These include “a $7 million Series A fundraising in 2017 and a $75 million Series B in 2018. It is unclear whether Samsung’s investment is part of a larger funding round,” the online publication notes.
Ledger’s previous CEO and co-founder, Éric Larchevêque, confirmed the investment but did not comment any further, according to Capital.
On Twitter, Larchevêque seemingly confirmed the news as well, saying that we’ll always need hardware wallets and the smartphone will play an important role.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.