- Tony Fadell has teamed with cryptocurrency wallet provider Ledger.
- Ledger aimed for a device with the Stax that was more pleasing and more practical than the Nano S.
- Interest in self-custody appears to be picking up.
Tony Fadell has teamed with cryptocurrency wallet provider Ledger. This partnership offers a safety net for the development of its Ledger Stax physical wallet. Tony Fadell is a well-known iPod designer for Apple and the former CEO and co-founder of the Nest thermostat firm.
Fadell states that he envisioned what the future of digital assets would look like and came up with this idea of what the next generational [wallet] would look like.
I was using all these competitor devices, but when they’re all turned off, they’re blank slates like your phone. You don’t know what’s on them. There are a lot of people who are using multiple devices for NFTs, crypto, etc., but I want it in one place.
Notably, Ledger aimed to create a device with the Stax that was both more aesthetically pleasing and practical than the Nano S. The gadget, which resembles a USB thumb drive, has the potential to become widely used by cryptocurrency users. This is according to Pascal Gauthier, the CEO, and chairman of Ledger.
The wallet is a credit card-sized device with embedded magnets so that multiple devices can easily be stacked. The outside is a wraparound e-ink display that can show transaction details and even NFTs.
The Ledger Stax will retail for $279, compared to $79 for the Nano S Plus and $149 for the Nano X wallet.
It’s perhaps a propitious time Ledger has chosen to launch a new hardware wallet. It is noteworthy that interest in self-custody appears to be picking up. This has been brought up by the collapse and asset freeze at centralized crypto exchange FTX and other crypto firms.
