Major exchange Coinbase has stated it will start to support crypto hardware wallets, beginning with Ledger, according to a report by CoinTelegraph on Thursday.
- The two companies announced the plans at the Ledger Open conference that is taking place in Paris on Thursday and Friday.
- Ledger is a key supplier of cold hardware wallets that stores users’ private keys securely than hot online wallets.
- Coinbase Wallet’s users will be able to link their Ledger hardware wallets, maintaining full control over their assets.
- The partnership will be implemented in phases, beginning in Q1 of 2022. Later, the Coinbase mobile application will start supporting Ledger hardware wallets.
- Max Branzburg, vice president of product at Coinbase stated the announcements will make Coinbase Wallet the safety and most secure channel to take part in Web3 over the next months.
Alesia Haas, the Coinbase chief financial officer, disclosed that Coinbase stores nearly 12% of all cryptos across over 150 asset types and stated crypto was moving past simple coin swaps. COIN down -0.86%, Pre-market trading