Ledger launches its own crypto debit card linked to its app

Ledger, the manufacturer of hardware wallets, has announced the launch of Crypto Life, its new debit card linked to the Ledger Live app and Ledger Nano. 

Initially, the crypto debit card created in partnership with Baanx, will only be available to customers in the UK, France and Germany, followed by customers in the US. 

Ledger launches Crypto Life Card to use cryptocurrencies in real life

Hardware wallet giant, Ledger, has announced the launch of its physical debit card, the Crypto Life Card (CL card), inviting its customers to get it for free with exclusive access. Here is the official announcement on Twitter:

Our Crypto Life card will allow you to seamlessly spend your crypto.

You can top-up & manage your #crypto easily and securely through #LedgerLive, and spend your crypto in fiat at the time of purchase.

Learn more here: https://t.co/casYdL0h8f (2/2)

— Ledger (@Ledger) December 9, 2021

“Drumroll, please – you asked & we listened. We are thrilled to announce that our Crypto Life card is coming soon! You have a chance to be first in line, so DON’T MISS OUT – refer a friend for a chance to get a free physical card & exclusive access”

Our Crypto Life card will allow you to seamlessly spend your crypto. You can top-up & manage your crypto easily and securely through Ledger Live, and spend your crypto in fiat at the time of purchase”.

According to reports, Ledger’s goal together with Baanx, the leading fintech company developing cutting-edge financial technologies, is to create a new experience for Crypto Life Card holders to fully live their lives using and managing their cryptocurrencies. 

Not only that, in addition to crypto, Ledger also allows to manage NFTs (Non-Fungible Tokens) and to access a growing list of third-party dApps in the “Discover” section. 

In this regard, the Ledger post reads as follows:

“The CL Card, powered by Ledger, is a major milestone in our journey to become your platform into the fast-emerging world of crypto. For you, it’s a new step towards more financial freedom, enabling you to securely spend and manage your digital assets in your real, daily life”.

Crypto Life Card: the features

Crypto Life Card is the first-ever debit card supported by a hardware wallet. Going into detail, with the new debit card signed Ledger and linked to the Ledger Live app, cardholders will be able to:

• top up and manage crypto without fees;
• spend crypto in real life with instant fiat conversion for everyday purchases;
• open a line of credit using cryptocurrencies as collateral, with rates as low as 0% (this option depends on the country where you live);
• pay instantly at over 50 million merchants and online shops;
• deposit your paychecks into your card account and choose what percentage of your paycheck to convert to BTC and ETH (this option depends on the country);

Currently, the Crypto Life Card offers a list of cryptocurrencies, including BTC, ETH, USDT, EURT, USDC, XRP, BXX, BCH and LTC. The card will be available to customers in the UK, France and Germany in the first quarter of 2022, and to US customers in the second quarter. 

The $380 million funding round

Earlier last summer 2021, Ledger had closed a $380 million Series C funding round led by 10T Holdings, along with Cathay Innovation, Draper Associates, Draper Dragon, Draper Esprit, DCG and Wicklow Capital, Tekne Capital, Uphold Ventures, Felix Capital and many others.

With this raising, Ledger’s total value has been estimated at over $1.5 billion, making it the largest hardware wallet company in the world. 

And in fact, Ledger claims that its devices protect private wallet keys on which as much as 15% of the market value of all crypto and tokens globally are stored. At the same time, it counts sales of 3 million devices in 19 countries, with more than 1.5 million monthly users on Ledger Live. 

The investment round was aimed at expanding the company’s leadership, and among its many projects, the newly launched Crypto Life Card is focused on expanding the mass adoption of Ledger hardware wallets by simplifying the use of crypto in real life.