In a groundbreaking development, Ledger, the prominent crypto security and hardware wallet expert, has unveiled an exclusive collaboration with PayPal, the global payment giant, targeting its United States users. Through an official announcement on their Twitter account, Ledger revealed an exciting collaboration on August 16, marking the debut of their smooth integration with PayPal Live. This innovative union provides users with a simple entry point into the world of cryptocurrencies, reshaping the concepts of user-friendliness and ease of access.
Our mission has always been to build ease-of-use and security for critical digital assets.
— Ledger (@Ledger) August 16, 2023
That's why we're integrating @PayPal into Ledger Live.
You can now buy crypto with PayPal and get it into your custody.
Learn more here: https://t.co/XtSTRRg1Xa pic.twitter.com/MAPhD1f3tT
Ledger revealed that American users of Ledger Live would now have the direct ability to acquire Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) through their linked PayPal accounts, all within the Ledger Live ecosystem.
Pascal Gauthier, the visionary Chairman & CEO of Ledger, underscored the shared commitment of Ledger and PayPal toward facilitating secure, swift transactions across borders. Gauthier emphasized that this strategic partnership bolsters user confidence and adaptability, particularly when converting traditional currency into digital assets. Gauthier stated,
PayPal has remained at the forefront of the digital payment revolution for more than 20 years, and we are thrilled to come together in this next period of asset innovation with our integration.
Ledger assertedthat it has sold more than 6 million Ledger Nano hardware wallets since 2016, solidifying its position as a leading producer of hardware wallets. However, in May, the company found itself embroiled in a certain degree of contention when introducing a discreet service for storing recovery phrases. This move sparked bewilderment among users. Subsequently, the Ledger team endeavored to address these concerns by elucidating the functionality of their wallet, to alleviate any criticism directed their way.
Moreover, access to the Ledger Live platform would be granted exclusively to individuals with a prior history of using PayPal for crypto acquisitions. Aspiring Ledger Live users who plan to leverage PayPal for crypto transactions must establish a new account or complete a KYC (Know Your Customer) verification process.
This partnership is a significant stride toward enhancing mainstream crypto adoption within the United States. By merging Ledger’s cutting-edge security measures with PayPal’s extensive reach, the collaboration is poised to accelerate the integration of cryptocurrencies into everyday financial activities for US residents.
