Coinbase announces launching support for hardware wallets, with Ledger
Coinbase, the major cryptocurrency exchange, has announced that it would begin supporting crypto hardware wallets, starting with Ledger. The two companies have made a joint announcement at the Ledger Open conference, currently taking place in Paris till December 10.
Ledger has been a giant supplier of cold hardware wallets, that store users’ private keys more securely than several other hot online wallets.
Coinbase Wallet browser extension’s users would now be able to connect their Ledger hardware wallets together for maintaining self-custody and total control over their assets.
The partnership is expected to be rolled out in different phases, the first one to launch in the first quarter of 2022. Further, the Coinbase mobile app would also be enabled for supporting Ledger hardware wallets.
Vice President of Product at Coinbase, Max Branzburg, has said that they are excited to share more announcements about how the company is making its wallet the safest and most secure way for participating in Web3 over the coming months.
Meanwhile, the Chief Financial Officer of Coinbase, Alesia Haas has made some big statements in her testimony made to the United States House Committee on Financial Services on December 8. She has claimed that Coinbase stores about 12 per cent of all the crypto across more than 150 asset types and that crypto were now moving beyond simple coin swaps.
Haas has said that nearly 50 per cent of their transacting customers were all “doing something other than buying and selling crypto,” thus indicating that crypto was moving beyond “its initial investment phase into the long-expected utility phase.”
Coinbase has 73 million customers spread across the globe, including 10,000 institutions and 185,000 application developers.