One of the oldest crypto companies and the creators of the blockchain wallet have ventured into the hardware wallet space.
Blockchain Launches Lockbox
Blockchain, the company behind the wallet with the same name has announced the launch of a hardware wallet “Lockbox” that is powered by Ledger, the leading manufacturer of hardware cryptocurrency wallets.
The announcement was made through a blog post published on Ledger’s official website earlier on Thursday. Blockchain is one of the most trusted firms in the world with over 29 million crypto wallets. The hardware device is compatible with the blockchain wallet.
According to the post:
Leveraging the strengths of these two industry powerhouses, the Blockchain Lockbox will allow Blockchain users to seamlessly and securely store crypto assets offline through a first-of-its kind integration of cryptocurrency hardware and software.
Benefits of Hardware Wallets
Hardware wallets, a type of cold wallet, are among the most secure because they store the users’ private keys offline. With multiple incidents of hacking in the recent past, cryptocurrency investors are looking for better ways to secure their digital assets.
Peter Smith, CEO, and Co-Founder of Blockchain, said:
The Lockbox is a reflection of what our companies both do best. We’ve created an elegant software and hardware integration that offers more functionality than previously existed in our space. We’re thrilled to offer the Lockbox to Blockchain users so they can easily manage their funds online and offline seamlessly.
Ledger President Pascal Gauthier also stated:
With stories about crypto hacking continuing to dominate headlines, it’s obvious that security must be top of mind for all stakeholders in the crypto space.
Gauthier added:
With the combined forces of Blockchain and Ledger, users are truly getting the best of both worlds. Our partnership with Blockchain is the first of its kind, but as two companies hyper-focused on crypto security, it’s one that’s a natural fit.
How to Order the Lockbox
The company has started accepting pre-orders starting October 25th and the deliveries are expected to begin in mid-November, according to the announcement. Early customers will receive the special edition blue version of the device. The Lockbox can be ordered from the official website of Blockchain.
Existing customers of the Ledger Nano S will be able to connect their devices to the blockchain wallet.
With this mutually beneficial partnership, both Blockchain and Ledger will be able to tap into each other’s customer base to increase their footprint.
Do you think this partnership will be beneficial for both companies? Let us know in the comments below.
Images courtesy of Ledger, Shutterstock