South Korean tech major Samsung has reportedly invested €2.6m into French cryptocurrency security hardware maker Ledger.
The investment has valued Ledger at €260m according to a report by French media outlet, Capital.
Founded in 2014, Ledger is a security and infrastructure developer for cryptocurrencies and blockchain applications.
The company offers hardware crypto wallets, one of which comes in the form of a USB device and enables users to connect a wallet to any device. The USB comes with a digital screen which is used for payment validation.
A small touchscreen device, Ledger Blue, is another hardware crypto wallet Ledger offers, and can be used to check currencies, or connected to computers and smartphones via Bluetooth or USB.
Ledger raised $7m in its Series A funding round two years ago and would go on to raise a further $75m in its Series B round last year.
The news follows the launch of Samsung’s Galaxy S10 5G smart phone earlier this month, which features its own cryptocurrency wallet. Samsung also recently joined a $4m round for crypto mobile wallet business ZenGo, alongside fellow investors Oak Ventures and Elron.
Recently, Ledger announced a partnership with technology providers Intel and Gemalto in order to ensure security for its crypto asset applications.
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