French startup Ledger, which specializes in the production of cryptocurrency hardware wallets, has announced a new development – crypto debit card with NFT support, called Crypto Life.
Crypto Life is a payment card created in partnership with Baanx Group. The card allows you to pay with cryptocurrency directly from your hardware wallet, both on the web and in the real world.
With Crypto Life Customers can Pay with Crypto in-store
Conversion of digital assets into fiat will occur immediately at the time of payment at the current rate.
Of course, clients will be able to manage their funds directly in the Ledger Live application, and, in addition to the card, all members of the club program will have the opportunity to get a loan secured by cryptocurrency to pay for any goods at 0% per annum.
What about interest rates on the crypto debit card?
The interest rate can be changed depending on the region.
Crypto Life will launch in early 2022 for residents of the UK, France and Germany. At the initial stage of beta testing, the card will support payments in nine cryptocurrencies and stablecoins . The list includes:
- Bitcoin ( BTC )
- Ethereum ( ETH )
- Ripple (XRP)
- Baanx (BXX)
- Bitcoin Cash (BCH)
- Litecoin (LTC).
The company also said it plans to expand its product line by the end of 2022 to become a full-fledged crypto-financial platform.
“Just like the iPhone is the platform for Web 2.0, Ledger is becoming the platform for Web 3.0, “
– said Ledger CEO, Pascal Gaultier.
Another important thing is the partnership between the largest cryptocurrency exchange Coinbase and Ledger. Both companies are aimed at improving the security level of cryptocurrency storage. Coinbase plans to start integrating Ledger hardware wallets with its platform in order to provide users with more options to securely store their cryptocurrency on their own. The integration will be carried out in stages and will start from the 1st quarter of 2022.
Coinbase will integrate Ledger. Multi-chain support for non-fungible tokens (NFT) would be also added.
The multi-chain NFT token integration will kick off with Ledger Live, an asset management app for the Ledger hardware wallet, he said. Both versions for mobile devices and for personal computers will receive support. As part of the demo, they showed the synchronization of the Rarible and Ledger Live marketplace. In addition, Ledger also announced partnerships with cryptocurrency exchanges FTX and Coinbase.
As part of the partnership, Coinbase will add Ledger hardware wallet support to its mobile wallet, the Coinbase Wallet. FTX will offer reduced fees to Ledger clients.
The company also unveiled a new version of the Ledger Nano S + hardware wallet. The novelty received a larger screen, more memory, and also expanded the list of supported cryptocurrencies. The cost of the new wallet remains unknown. What’s more, Ledger has hinted at the development of yet another nuanced hardware device. However, the release of new items should not be expected earlier than 2022-2023.
It’s interesting to think about it…
We may never know. Perhaps in 5 years, you’ll be saving money on your Ledger Crypto Credit card.