Ledger hardware wallet will support stablecoins

[Paha87]

Manufacturer of hardware crypto-wallets Ledger plans to soon add support for the most popular stablecoin, including Tether (USDT), due to demand in new markets in Asia.

Despite the recent loss of usdt's parity with the dollar amid renewed questions about its Issuer's reserves, Benjamin sun, the new head of Ledger for Asia-Pacific operations, said the token "remains popular" and will be added to Ledger wallets. According to sung, who opens the first Ledger office in Hong Kong, "Chinese and South Korean investors often use stablecoin because of difficulties in their own traditional capital markets."

Even outside of the USDT, the Ledger wallet (which also supports the Dai token tied to the us dollar price) will also support other stablecoins, as the company pursues the goal of expanding its storage business, with the goal of supporting more than 100 different tokens by the end of next year.

Ledger President Pascal Gauthier said:"we have a great way to integrate many cryptocurrencies, including stablecoins."

New office
According to Suna, approximately 30% of the sales Ledger accounts for Asian markets, despite the absence of the representative offices of the company. Sun explains:

This is an asset class in which retail has really gone the way, following incoming institutional players. We are definitely seeing a lot of traditional asset managers and banks are starting to learn how they are going to enter and maintain this asset class.

However, when it came to bitcoin, sun said that " traditional asset managers in APAC prefer to transfer their funds to crypto when storage solutions meet the level of security and trust in banks." And in this matter, it should be noted separately, Ledger has a partnership for the storage of institutional funds with the Japanese Bank Nomura.

"Capital managers would ultimately prefer to work with traditional financial institutions, so partnering with Nomura makes a lot of sense," sun explains.

"Corporations, currency exchanges, and banks in Hong Kong have already begun to pay attention to storage solutions,"sun said - hedge Fund executives are now moving into the crypto sphere to help build infrastructure for this new class of asset."

Link to the source of information (Russian) - https://altstake.io/news/apparatnyy-koshelek-ledger-budet-podderghivaty-steyblkoiny

[cowz]

When the price of bitcoin started to tank everyone went to tether so it is probably the main currency for many investors who are waitng for bitcoin to rise again