Ledger Includes Stablecoins Such as Tether
October 31, 2018 5:03 pm
Ledger is currently supporting Tether for its two storage products named the Ledger Nano and Ledger Blue. The wallet maker wants to add the U.S. dollar-linked cryptocurrency to its institutional vault service.
One of the team members of Tether said that one thing which is unique in China and South Korea is the demand for USDT. Both countries have capital controls and the ability to move currency out of the country.
The team member said that the Chinese and South Korean investors are more comfortable with fiat-pegged currencies that reflect traditional capital markets.
After including Tether, Ledger will be adding other stablecoins as it pursues a major expansion of its custody business. Ledger aims to support more than 100 different tokens by the end of next year.
Pascal Gauthier, President, Ledger said in a statement:
“We have a big road of integrating many things right now, including stablecoins.”
Ledger has also expanded its offices from Hong Kong to tech hub countries such as Japan and Singapore. The President of Tether said that they want to hire local talent who understand the local culture.
Ledger is also partnering with the Hong Kong-based software startup Internet Online Hong Kong (IOHK), led by Ethereum cofounder Charles Hoskinson. Next week, during Hong Kong Fintech Week, Ledger and IOHK will be hosting a party for the local crypto community.