The Ledger hardware wallet team will add support for new stablecoin, as well as integrate Tether (USDT) into all the company's products, reports CoinDesk.
Currently, the most popular stablecoin is supported by popular Nano S and Blue devices. However, soon the USDT token can be integrated into a cryptocurrency storage service aimed at institutional investors.
New Ledger operations manager in the Asia-Pacific region, Benjamin Soong, is confident that despite Tether’s extremely high recent volatility, this stablecoin remains popular.
One thing that is slightly unique in China and South Korea is the demand for USDT. Since both of those countries have capital controls, in terms of your ability to move currency out of the country.
Operations manager in the Asia-Pacific region, Ledger
This, he said, is largely due to the control of the authorities over the movement of capital. The users from these countries liked the opportunities offered by the stablecoin, tied to the US dollar. He also noted that about 30% of the proceeds from sales of Ledger devices come from Asian markets.
In addition to USDT and the DAI token from the MakerDAO project, Ledger will soon add support for other steblecoins. As part of the plan for the development of custodial direction, by the end of the year the company plans to add support for about a hundred different coins.