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Cryptocurrency Wallet Manufacturer, Ledger gets $2.9 Million Investment by Samsung


Ledger, hardware cryptocurrency wallet manufacturer has recently secured $2.9 million from Samsung. The news was reported by leading news media mogul, Cointelegraph. The details more than the initial investment amount are still in wraps. 

Just a day back, the firm appointed Pascal Gauthier as their new CEO. Whereas, former CEO Eric Larchevêque will now be the Executive Chairman of the Ledger’s Board. He said, 

“In this role, I will be able to properly focus on strategy and vision, while also overseeing regulator and government outreach, partnerships, customers, broader business relationships and technology thought leadership.”

If sources are to be believed, Samsung will reportedly develop a public-private blockchain along with its token. Samsung has yet again delayed launch of its $2,000 folding phone owing to a plethora of breakage issues. 

Last December, researchers claimed that  Trezor One, Ledger Nano S and Ledger Blue cryptocurrency wallets are not hack proof. However, Ledger argued that uncovered vulnerabilities in its hardware wallets were not of any harm to cryptocurrency holders. 

A look at Rising instances of Blockchain Adoption

In another news reported by CoinMarketFeed, Samsung SDS is all set to collaborate with IT giant Tech Mahindra to make a grand entry in the overseas blockchain market. SDS, the systems integration arm of Korean tech behemoth Samsung has plans to take Nexledger blockchain to India, the United States, and Europe. 

Blockchain adoption has been significantly rising despite the bearish crypto market. Earlier this month, United States-based Blockchain Holdings Capital Ventures (BHCV) partnered with SG Blocks. Blockchain Holdings Capital Ventures will be SG Blocks’ sole partner in designing decentralized data centers. The first prototype is expected to appear in Q4 2019.

Yesterday, CoinMarketFeed reported China’s foreign exchange reserve regulator, the State Administration of Foreign Exchange (SAFE) is all set to test a cross-border trade finance blockchain platform. The institute has completed the technical aspects of the project under the name of China Banknote Printing and Minting Corporation.

Earlier this month, Bibox, a leading crypto exchange announced its decision to launch an incubator for blockchain projects. The project will be called Bibox Orbit. The project seeks to provide the best environment for high potential blockchain projects and also assist them in building and long-term development. 

Bibox perpetual contracts will allow users to buy or sell with a leverage of up to 50x. Also, the exchange announced a range of incentives for traders who participated in the launch. Also, users who deposited more than 100 USDT and collectively traded up to 25BTC or 740 ETH of the contract face value were deemed as “Experience Officers”.