Ledger about to support stablecoins

Posted 31 October, 2018

The producer of hardware wallets – Ledger – expressed intentions to expand the list of the supported assets with stablecoins.

The company also plans to add updated Tether (USDT) to all its products and services. Specifically, for now, Tether is supported by Ledger Nano and Ledger Blue, though in the long run it is planned to be added to crypto storage solutions for institutional investors.

Ledger representative commented that USDT token has shown dramatic fluctuations recently, but still enjoys good demand. High interest in this token is seen in South Korea and China, which can be explained by the withdrawal restrictions effective in these countries – local investors here choose fiat-linked assets.

USDT "is a vehicle that is kind of unique in the market out here, that I've seen so far,"  as he commented to the media.

It is worth mentioning that Ledger will also add more stablecoins to its productions as part of the custodial business expansion. Moreover, the company is going to achieve the support of up to 100 different coins in its products for large institutional clients by the end of the year.

In addition, it has become known today that the company has inaugurated a new office in Hong Kong. The new branch is said to be aimed at regional management and service promotion.

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31 October, 2018 12:04

← Crypto exchanges have right for banking services in South Korea - Financial Services Commission

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Crypto exchanges have right for banking services in South Korea - Financial Services Commission

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