Ledger, the manufacturer of hardware wallets, announced the launch of the Crypto Life payment card in the Visa network in the first quarter of 2022. It will provide instant conversion of digital assets into fiat at the time of payment and the possibility of lending secured by cryptocurrencies.
Furthermore, fintech company Baanx Group will support the initiative. Cardholders will be able to pay for purchases at more than 50 million Visa outlets. To transfer funds, you will need to use the Ledger Live application.
Residents of the United Kingdom, France and Germany will receive Crypto Life. Moreover, it plans to become available for residents of the United States starting from the second quarter of 2022. Thus, the company has opened a waiting list.
The company has opened a waiting list
Initially, the card will support BTC, ETH, USDT, USDC, EURT, XRP, BXX, BCH and LTC. Thus, the overdraft interest rate will be from 0% per annum, depending on the region.
Ledger will offer an option to convert salaries into ETH, Bitcoin and stablecoins to a Crypto Life account.
The card is being issued as part of a strategy to transform into a Ledger Live-based crypto platform. It involves expanding the product line, integrating transactional services, including those focused on decentralized finance (DeFi), and developing its own operating system.
Support for non-fungible tokens
During the Ledger Op3n conference, chief technology officer Charles Guillemet announced the integration of support for non-fungible tokens (NFTs) released in various blockchains. In January, users will be able to use all the functions of the Rarible marketplace. “You will be able to use tokens directly from Ledger Live. From creation to collecting and trading,” he said.
Ledger chairman and chief executive officer Pascal Gauthier announced the conclusion of cooperation with FTX. Users will be able to trade leveraged cryptocurrencies on this platform via Ledger Live. Also, the top manager announced the addition of support for the Coinbase wallet.
Earlier in June Ledger raised $380 million at a valuation of $1.5 billion.