New Credit Card By Ledger in a Partnership with FTX, Coinbase, and Rarible
The VP of Payments at Ledger, Iqbal Gandham noted, there is a need in the crypto industry to start focusing on spending. It was announced during the conference that the new card will be a Visa card, issued by Baanx. Baanx is an affiliate of Contis Financial Services, and with this partnership, some exciting developments are underway.
The new card of Ledger will be called Crypto Life card, and it will work by supporting a range of different cryptocurrencies available in the market. It was also announced that the card will be available for tracking through Ledger Live, which is a software companion to different types of hardware wallets issued by Ledger.
Ahead of the launch of the cryptocurrency card, the ledger has announced to be starting a special waitlist. Gandham noted that using the card will be a very simple and convenient experience. It will automatically convert crypto at the point of sale. In addition, if the owners of the card want to make interest-free payments, they will be able to make requests for 30 days.
This process will largely be dependent on the cryptos used by the owners of the card. According to him, it is planned for the cardholders to be able to have their salaries sent directly into their account starting from early next year. The salary will be automatically converted into crypto, which is great news for many.
Supporting NFT Transactions
Several exciting announcements were made by Ledger during the conference. One of them was that Ledger plans to work on different ideas to ensure the security and safety of NFT transactions between wallets.
The VP of product at Ledger, Charles Hamel, said that today when making NFT transactions, users have two choices. They will either have to blind sign it, which means that they are not able to see what data they are agreeing to share, or they will see too much data, which is basically meaningless to most people.
This is very different from regular crypto transactions, where users, in most cases, see where they are sending funds when approving the transactions. During the conference, Hamel announced that Ledger is aiming at finding alternatives to break down the transaction and let individuals see what is going on directly in their mobile phones.
This information will be available through the mobile app of Ledger when signing in. Hamel also presented the audience with a demo of the app, providing the transaction details. This included the destination address and the token that is being sent. In addition to this, Ledger also announced that it would be integrating Rarible into Ledger Live.
This way, Ledger will allow users to access the NFT marketplace to buy and sell NFTs whenever they are using the hardware wallet to execute transactions.
Partnership with FTX, Coinbase, and Rarible
It was announced by Ledger that it will be partnering with some of the largest companies in the market to ensure the further development of their ideas.
By introducing FTX into the lineup, Ledger Live will be expanding the traditional options available for users. The first version will be the non-custodial swap function. The partnership with FTX is very important for Ledger, as it is one of the largest exchanges in the industry.
The exchange is known for offering crypto traders different types of trading opportunities, including manual and automated trading on FTX. Choosing the trading bot for FTX is easy as there are many of them available. FTX allows connection using API keys, which is a very easy way of connection.
It was also mentioned that the second version will provide full exchange functionality, which is a very important development. This includes trading derivatives, although it will be a custodial service.
It was announced that Ledger will be using the non-custodial wallet of Coinbase, the Coinbase Wallet, to support their ideas.
It was noted that this will allow users to interact with blockchain applications using the web browser while also using the hardware wallet. The VP of product at Coinbase, Max Branzburg announced that the exchange is building out support for hardware wallets directly within the non-custodial wallet.
Among the announcements made by the representatives of Ledger was the upgrade to its popular Ledger Nano S model, the S Plus. The new version will be developer-friendly, designed to ensure that developers have the opportunity to test on actual devices, rather than through an emulator.
It will also have a larger memory capacity. The company also announced to be working on a new hardware project, saying that the possible date for its release is either 2022 or 2023.
Partnership with such huge companies is very important for developing ideas such as issuing a crypto credit card. This is a huge step for the industry and can make it easier for individuals to deal with cryptocurrencies.