- 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.
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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.
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