A new hardware crypto wallet designed by the inventor of Apple’s iconic iPod is reportedly coming onto the market.
According to a new report by CNBC, iPod creator Tony Fadell designed the crypto wallet for the French startup company Ledger, which plans to start selling the credit card-sized device for $279.
Ledger calls the new product the LEDGER Stax and has opened up preorders with shipping expected in early 2023.
Says Fadell,
“This reminds me a lot of the iPod.”
The product was unveiled at the company’s annual Ledger Op3n event this week.
Per 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 (), smart contract platforms Ethereum () and Solana () as well as non-fungible tokens (NFT).
Magnets are in the devices to allow people to stack them together, which is why the product is called Stax. People can connect it to their laptops with a USB cable or their phones using Bluetooth.
Ledger says that their devices have become more popular with the implosion of the crypto exchange FTX and consumers looking to self custody their digital assets.
Says Pascal Gauthier, Ledger’s CEO,
“All the news that you’ve seen since the beginning of the year, from Celsius all the way to FTX, has really pushed a lot of users towards self-custody.”
Ledger believes with increased adoption of digital assets their devices will become more popular.
Says Ian Rogers, Ledger’s chief experience officer,
“There’s no question about the need for security and there’s no question that we lead increasingly online lives. Instagram, Nike, Starbucks, Amazon – many companies are finding real life use cases for digital assets. And so I think that we will grow with that.”
