Ledger emphasis on India underscores its push to promote crypto self-custody through secure and user-friendly hardware wallets.
The heightened awareness of self-custody for digital assets has been a result of over $3 billion in crypto-related hacks and scams in 2024.
Consequently, an increasing number of investors are choosing hardware wallets over centralized exchanges.
In July 2024, a significant hack on the WazirX crypto exchange resulted in $235 million in losses and impacted over 4 million users in India.
During a 10th anniversary tour, Jean-Francois Rochet, the executive vice president of consumer services revenue at Ledger, emphasized the necessity of educating individuals about self-custody in an interview with Cointelegraph.
Rochet stated that the Indian market must comprehend the significance of digital security and the advantages of crypto self-custody.
The ultimate objective of a hardware wallet service provider such as Ledger is to ensure that devices are as user-friendly as possible while simultaneously maintaining our unwavering level of security.
Rochet further stated, “This has been our guiding principle from the very beginning.”
Rochet identified India’s extensive developer base as a critical factor in the global digital asset revolution, which has progressed from technology services to advanced research and development.
Consequently, Ledger regards India as a critical market for hardware wallets.
At present, the company most popular product line is its Nano series, which serves as its foundation.
Nevertheless, the organization has also been emphasizing the provision of high-end touchscreen devices, including the Ledger Flex and Ledger Stax, to individuals who are interested in financial independence and self-sovereignty.
“As we’re now in a new crypto cycle of adoption, the demand for self-custody will keep rising, and more people are going to recognize the benefits of digital ownership, which are self-sovereignty and financial freedom.”
Ledger has implemented a clear-signing initiative to facilitate the comprehension of “complex smart contract data” by everyday users, thereby enabling them to verify the transactions they sign.
Rochet stated that this technology has the potential to facilitate mainstream adoption, emphasizing the importance of intuitive and secure experiences to foster a broader acceptance of cryptocurrency.
The Ledger Enterprise offering allows corporations, including institutional players, banks, funds, and governments, to guarantee security and governance by prohibiting a single point of authority from overseeing substantial digital assets.
