Coinbase To Support Hardware Wallets, Partners With Ledger First

Top crypto exchange platform Coinbase has just announced its plans to support crypto hardware wallets, beginning with Ledger. The announcement was made by both companies in the ongoing Ledger Open conference, which is scheduled to hold for two days — Thursday and Friday, in Paris.

What is The Goal of The Partnership With Ledger?

Ledger is reputable for developing the kind of hardware wallet technology that offers users a very high level of security for their crypto assets.

But as a result of this partnership, users of the Coinbase Wallet browser extension can now easily connect with Ledger hardware wallets, thereby having full custody and exerting full control over their assets.

Reports suggests that the partnership will be rolled out in batches, with the first slated for some time in Q1 of 2022. For now, the mobile app version of Coinbase does not support Ledger hardware wallets. However, it would sometime in the near future, even as efforts are also ongoing in that regards.

Meanwhile, an obviously excited vice president of products at Coinbase, Max Branzburg also tooke more about the announcement. According to him, the partnership with Ledger is geared towards ensuring that over the next few months, Coinbase Wallet will become the safest possible way to be a part of Web3.

Coinbase Makes Bold Statement, Says It Stores 12% of All Crypto

As revealed by the Chief Financial Officer(CFO) of Coinbase, Alesia Haas during the congressional hearing on Wednesday, Coinbase stores nearly 12% of all global crypto. Alesia then claimed that crypto is no more about the simple coin exchanges it used to be. It has gone way beyond that and now boasts of over 150 asset types in all.

She also claims that about half of the company’s customer base, now does more than mere buying and selling of crypto. To her, this is an attestation to the fact that crypto is gradually moving into its long-term utility phase.