Samsung reportedly invests $2.9mn in cryptocurrency hardware startup Ledger | Fintech

Samsung has reportedly invested €2.6mn ($2.9 million) in hardware cryptocurrency wallet manufacturer Ledger, according to French business magazine Capital.

The multi-million dollar investment comes shortly after Samsung Ventures led a $4mn round in ZenGo, a startup which develops keyless crypto wallets.

Ledger’s most well-known product is the Ledger Nano S, a tool which looks like a USB key and which allows cryptocurrency investors to secure cryptocurrency in a cheap, easy way. 

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The latest investment follows the appointment of Pascal Gauthier as Ledger’s new CEO.

Former CEO and co-founder, Éric Larchevêque, will now serve as Executive Chairman of the Board.

“In this role I’ll be able to properly focus on strategy and vision, while also overseeing regulator and government outreach, partnerships, customers, broader business relationships and technology thought leadership,” Larchevêque wrote in an online letter.

“I’ll continue to interact with the crypto and consumer communities, and help Ledger to fulfill its mission of securing all types of critical digital assets.