Samsung, the South Korean electronics giant, has invested €2.6 million (around $2.9 million) in hardware wallet manufacturer, Ledger, according to the French business magazine Capital.
The new funding has increased the total valuation of Ledger to €260 million (roughly $290 million). The Executive Chairman of Ledger, Eric Larcheveque, confirmed that the company had received support from Samsung, however he did not disclose details.
Ledger is a Paris based firm that is building security and infrastructure solutions for cryptocurrency use. Ledger was found in 2014. Currently, it has over 130 employees in three locations: Paris, Vierzon and San Francisco.
Ledger Nano S Hardware Wallet is the most popular product from the company. The Ledger Nano S provides a private, secure wallet for over 23 cryptocurrencies. The firm also offers infrastructural solutions like crypto vaults for institutions and banks.
Samsung Electronics is one of the first major mobile manufacturers to rolls out crypto-wallets. Last month, the company released its flagship smartphone, the Galaxy S10, with an in-built secure cryptocurrency wallet and Dapp support.