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IOTA Foundation collaborates with crypto wallet provider Ledger

(Photo: Business Wire

Nov 02, 2018 10:13 am UTC

IOTA Foundation, a non-profit foundation supporting the development and standardization of new distributed ledger technologies (DLT), is collaborating with Ledger to integrate IOTA tokens with Ledger’s crypto hardware wallets.

With this collaboration, the Ledger hardware wallets will integrate with the IOTA Trinity and Romeo Wallets and enable IOTA token holders to isolate their tokens from their computer or smartphone. The Ledger Nano S hardware wallet will enable users to protect the private keys giving access to their IOTA tokens in a state-of-the-art secure chip.

According to the official release, users will be able to validate transactions on their Ledger hardware wallet as part of the security protocol.

David Sønstebø, co-chair and co-founder of IOTA Foundation, said that hardware wallets are regarded as the safest way to store cryptocurrencies.

“At IOTA, we made a commitment to delivering the safest and most usable standalone cryptocurrency wallet. The Trinity wallet is well on its way to fulfilling that commitment, and today we are proud to announce the next step on the journey,” he said. “Ledger has earned a strong reputation for security and reliability, and this made it a natural choice for integration with Trinity. We are proud of how our community, the IOTA developers and the Ledger team have worked together to make this possible.”

Founded in 2014, Ledger is a crypto wallet startup backed by Draper Esprit, Digital Currency Group and a roster of other prominent investors. The company recently announced its expansion to Hong Kong and the appointment of Benjamin Soong as the Head of Asia Pacific (APAC).

“Providing the highest level of security and quality is a major focus at both Ledger and IOTA,” said Eric Larchevêque, CEO at Ledger. “The collaboration between the teams created an immediate synergy concentrated on developing a compatibility feature allowing users to access, store and manage IOTA tokens on Ledger devices. We are thrilled to welcome IOTA onto the Ledger platform.”

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