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Ledger, manufacturer of one of the safest hardware wallets out there, has announced the introduction of a crypto debit card called the Crypto Life card.
Per the press release, more than 50 million retailers and online stores will be accepting cryptocurrency payments with Ledger’s card. Fintech business Baanx handles program management and infrastructure for the card.
Cardholders can open a line of credit to get cash to spend on the card. Cryptocurrency will serve as collateral and rates, varying by region, start at 0%.
U.K., France and Germany customers will be the first to start using the card in the first quarter of 2022. U.S. customers will follow in the second quarter. The company opened up a wait list for the Crypto Life that will initially support BTC, ETH, USDT, EURT, USDC, XRP, BXX, BCH and LTC.
Fintech company Baanx will provide program management and infrastructure for the card.
Earlier in the year, Ledger raised $380 million a Series C funding round, valuing the business at $1.5 billion. The new resources would be used for further innovation of its hardware products, for new services for decentralized finance solutions, while also expanding corporate capabilities, Ledger then said.