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Wallet provider Ledger raises $380M to welcome DeFi ecosystem

June 10, 2021. Summarized by summa-bot.

Compression ratio: 40.3%. 1 min read.

Ledger, the maker of Ledger Nano S and Nano X hardware wallets, completed a $380 million fundraising round led by 10T Holdings.

Following a dramatic increase in its revenues in the first quarter, the cryptocurrency security and infrastructure company Ledger completed a new fundraising round led by 10T Holdings.

Known for its Ledger Nano S and Nano X hardware wallets, Ledger announced the completion of a $380 million Series C fundraising round, which gave the company a valuation of $1. 5 billion.

Ledger CEO Pascal Gauthier said the Series C investment round would transform Ledger from a digital asset security company to a secure gateway to the entire digital asset ecosystem.

Ledger will use the $380 million for developing new products and adding decentralized finance solutions to Ledger Live, the company’s wallet software.

The company is also looking to strengthen its Ledger Enterprise Solutions, a cloud-based digital asset custody service.

by summa-bot

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