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Blockchain News

Hardware Wallet Maker Ledger Targets Latin America Growth

Crypto hardware wallet producer Ledger is set to expand its presence in Latin America, focusing on Central and South American countries. Ledger aims to enhance its supply chain operations across the Americas region by establishing official resellers in several countries, including Argentina, Brazil, Mexico, Chile, Paraguay, and Uruguay. However, countries such as Guatemala, El Salvador, Panama, Venezuela, and Peru currently lack official Ledger resellers, resulting in higher shipping costs or the need to purchase from less reliable sources.

The expansion into Latin America by Ledger is expected to facilitate easier access to its products for consumers in these nations. As crypto adoption continues to grow in the region, Ledger’s move aligns with the increasing demand for secure storage solutions in markets like Panama, Peru, and El Salvador, where crypto mining and token-buying activities have surged.

Despite recent setbacks in Venezuela, including the arrest of pro-crypto ministers and the decline of the state-run Petro cryptocurrency, the government had previously expressed support for hardware-based crypto wallets. In a notable instance, Venezuelan President Nicolás Maduro received a Trezor wallet on state TV in 2019, speaking highly of the device.

Ledger’s expansion plans follow its partnership with a USA-based logistics firm earlier this year to distribute inventory previously housed in European and Asian factories, initially focusing on the US and Canada. The company intends to extend the scope of this partnership to Central and South America, recognizing the potential in these markets.

Furthermore, Ledger introduced Ledger Enterprise TRADELINK, a platform designed to offer off-exchange trading with regulated custodians. The platform provides users access to exchanges and brokers like Crypto.com, Wintermute, and Komainu, expanding the range of services available to Ledger’s enterprise clients.

Ledger’s strategic expansion into Latin America underscores its commitment to meeting the growing demand for secure crypto storage solutions in the region and further strengthening its supply chain operations across the Americas.

 

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