Major exchange Coinbase declares plans to start supporting crypto hardware wallets, beginning with Ledger. Also, The two companies confirms this during the Ledger Open conference, in Paris on Dec 9 and 10.
Notably, Ledger is a top supplier of cold hardware wallets, storing users’ private keys more securely.
Now, Coinbase Wallet browser extension users will now be able to their Ledger hardware wallets. Thereby, still maintaining self-custody and full controlover their assets.
More so, The partnership is with plans to be deployed in phases. Firstly, in the first quarter of 2022. Subsequently, the mobile app will also support Ledger hardware wallets.
Furthermore, Max Branzburg, VP of Product at Coinbase notes
“we’re excited to share more announcements on how we’re making Coinbase Wallet the…”
“safest and most secure way to participate in Web3 over the coming months.”
More so, Coinbase CFO Alesia Haas goes on to hold discussion while on her testimony to the U.S. House Committee on Financial Services on Dec 8. Whereso, She confirms that Coinbase stores about 12% of all crypto. Notably, across over 150 asset types, mentions how crypto is moving beyond simple coin swaps.
“Nearly 50% of our transacting customers are doing something other than buying…”
“and selling crypto, which indicates to us that crypto is moving beyond its initial investment…”
“phase into the long expected utility phase,”
Then, Alesia Haas confirms..
Lastly, Coinbase boasts to have more than 73 million customers globally. Of course, this includes 10,000 institutions and 185,000 application developers.
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