- The Ledger Nano Gen5 hardware wallet is priced at $179.
- Susan Kare, a designer from the original Apple Macintosh, created personalized clip-on badges for the device.
- The product includes Ledger’s physical security key to unlock the wallet instead of a seed phrase.
- Ledger has discontinued software updates for the older Nano S model due to limited memory.
- The company introduced a multi-signature wallet aimed at institutional clients to enhance shared control over crypto assets.
Ledger launched the Ledger Nano Gen5, its latest hardware wallet model, on Thursday. The device retails for $179 and adds new design features while retaining key capabilities such as an e-ink screen, secure signing, and tap-to-unlock with near-field communication (NFC). The release aligns with Ledger’s growing focus on serving institutional customers.
The Nano Gen5 comes with a physical security key, about the size of a credit card, which users can use instead of a seed phrase to access their wallets. Susan Kare, who designed the iconography for the original Apple Macintosh, contributed a series of small clip-on badges that allow users to personalize the device.
Since its first hardware wallet launched in 2016, Ledger has sold over 8 million devices in more than 160 countries. The company reports that its devices secure more than 20% of the world’s cryptocurrency market. However, Ledger stopped offering security and software updates for the Nano S model earlier this year, citing its limited memory capacity during a period of rapid crypto growth. Ledger’s executive vice president of marketing and communications, Ariel Wengroff, stated, “Like all consumer tech, there comes a point where developing updates is no longer feasible, in which case we will inform people well in advance of any cessation of updates.”
Alongside the Nano Gen5 release, Ledger also unveiled a multi-signature wallet designed for institutional clients such as hedge funds and decentralized autonomous organizations. Multi-signature, or multi-sig, wallets require multiple users to approve a transaction, increasing security by preventing a single point of failure. This product is based on open-source architecture from the smart contract wallet provider Safe.
The new wallet includes a feature called Clear Signing, which shows the full transaction address before authorization. This aims to prevent blind signing errors that have caused major losses in recent hacks, such as those involving Bybit and Swissborg. Wengroff noted these hacks resulted from users signing transactions without fully reviewing them, leading to losses of millions or even billions of dollars.
The enterprise product line, led by Sebastien Badault, was launched five years ago to meet the needs of larger clients requiring shared control over assets. Badault explained these clients wanted solutions that avoid having one individual hold all the keys, reducing risks and creating multiple approval layers.
This latest hardware wallet and the multi-signature solution represent Ledger’s efforts to adapt to increased institutional demand driven by expanding cryptocurrency adoption and regulatory developments in the United States.
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