Samsung invests $2.9 million into crypto storage Ledger
Samsung, along with a range of other investors have gotten involved in the fundraising
Samsung has its own interest in blockchain technology and cryptocurrency, it seems
Samsung has been steadily bringing blockchain into its ecosystem, starting with the Galaxy S10. This week, we see the company invest a total of $2.9 million into Ledger, bringing the latter’s total valuation to $290m allegedly.
Ledger as a digital asset/currency storage solution may be being put to use as Samsung delves deeper into blockchain. According to Coindesk Korea, the company will be leveraging blockchain in its digital payments solution.
Ledger has gained a good deal of notoriety on account of its entrepreneurial backer – Tim Draper. His venture company, Draper Associates, led the approximately $75 million fundraising round.
The application of blockchain comes alongside rumors that Samsung will be launching its own virtual token. For the moment, this remains exploratory.