LONDON — Cryptocurrency wallet maker Ledger has announced that it plans to launch Ledger Stax, the long-awaited hardware wallet designed by iPod inventor Tony Fadell, in May.
Ledger, which creates hardware and software wallets for crypto investors, first announced Ledger Stax in 2022 after crypto prices plummeted following the collapse of crypto exchange FTX.
The product, seen by CNBC at the time, is about the size of a credit card and allows users to track their crypto holdings on an e-ink display, similar to the technology Amazon uses in its Kindle series of e-books. Can be tracked. book reader.
Speaking to CNBC at the Blockworks Digital Asset Summit in London, Ledger CEO Pascal Gauthier said he expects Ledger Stacks to be launched soon. Ta.
“Stax will be launched in two months,” Gauthier told CNBC on stage at an event Tuesday. “It's finally finished. It'll be released soon.”
Ledger Stax has suffered a series of shipping delays over the past year due to issues with the smooth operation of its E-ink display. The product is also reportedly facing production bottlenecks.
The company has also been hit with a series of complaints from users due to delays in device launches.
According to Ledger's Gauthier, the main factor that delayed the wallet's launch was trying to wrap the e-ink display around the device.
Stax, priced at $279 and available for pre-order starting in late 2022, resembles a small smartphone or credit card reader.
At 85mm in height and 54mm in width, it's about the same size as a credit card. It weighs about 45 grams, which is lighter than an iPhone.
Users can deposit or exchange a variety of tokens, including Bitcoin, Ether, Cardano, Solana, and non-fungible tokens (NFTs).
Stax also has built-in magnets that allow you to stack books and cash into piles, allowing you to stack multiple devices. This is where the name Stax comes from.
Users can connect to a laptop via a USB cable or to a mobile phone via Bluetooth.
Gauthier said the product is designed to be much easier to use than current hardware wallets.
“We realized that self-custody and ownership are not for everyone,” Gauthier said.
But Gauthier said the company now has a robust supplier ecosystem in place to ensure Stax is generally available by May.
He added that Ledger's team persevered in developing Ledger Stax, noting that Fadel himself encouraged the company to continue working towards its launch.
