Ledger could become Europe’s first crypto unicorn with funding from Siemens, Samsung and Google 18093
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Chaitanya Thammaya
Jul 10, 2018 at 3:36 PM

Hardware Wallet maker Ledger might become Europe’s first crypto unicorn if they get funding from Siemens, Samsung and Google. A source close to the hardware wallet company told Forbes that the tech giants have shown interest in funding it. Ledger is currently raising funds in the second round of Series B funding. Reportedly, the industry leaders might sign a partnership with them or fund them.

The French company is the creator the Ledger Nano S. The user-friendly, multicurrency crypto wallet allows you to store all your crypto coins in one place. Ledger collaborated with Intel last year to integrate the hardware wallets into more mainstream desktop and mobile platforms. Thus, making it easy for consumers to use Ledger’s technology in the future.

See Also: A step-by-step guide to Cryptocurrency Wallets

Ledger which is currently valued over $300 million, raised over $75 million in the first round of the Series B funding. Last year’s bull market ensured that the wallet maker had a good year. Digital asset owners bought crypto wallets worth around $30,000,000. Ledger alone sold over one million wallets in total and made a profit of €25 million. Moreover, chainstate reports that they sold more wallets than Trezor, their competitor.

Ledger’s crypto wallet seems to be dominating the market, this mainly due to the number of coins it supports. Additionally, Ledger also provides receptive support, making it an obvious choice among the others. The wallet boasts that it’s resistant to hacks, but despite this, it has been hacked before. A 15-year-old hacker called Saleem Rashid gained access to a wallet by injecting malicious code into it. But the company managed to patch it with a software update because the hack required physical access.

See Also: Hacking crypto wallets would be impossible with this blockchain solution

If Siemens, Google and Samsung decide to sign any contract with the French company or fund it, it could get a boost. Ledger could become the very first crypto unicorn in Europe with this development. A company is called a unicorn when its valuation is over $1 billion. Coinbase became the first unicorn in the crypto world. The crypto exchange’s valuation rose up to $1.6 billion after they raised $100 million in the Series D funding.

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