Tether Stablecoin To Be Added To All Ledger Services
Ledger, a developer of hardware crypto wallets, is considering the possibility of supporting various stablecoins, including Tether (USDT), in all its products and services, CoinDesk reports.
To date, the startup supports Tether on two crypto wallets, Ledger Nano and Ledger Blue, and intends to add cryptocurrency pegged to the US dollar to its storage service in the future.
Despite the sharp fall of Tether price in mid-October and disputes over the sufficient backing of the stablecoin with US dollar, this crypto remains popular, Benjamin Soong, the new head of Ledger for operations in the Asia-Pacific area, stated. Also Tether is in demand in China and South Korea.
Soong plans to open the first Asian subsidiary of Ledger in Hong Kong and believes that it is more convenient for investors from China and South Korea to trade stablecoins or digital assets “that reflect traditional capital markets.”
Tether continues to enjoy increased demand on Asian crypto exchanges. The BTC/USDT pair had the largest daily trading volume of $72.1 million on the Huobi exchange, according to CoinMarketCap on October 31, at 10:30 (UTC).
The Ledger startup plans to support not only Tether but also other stablecoins, as it aims to expand custodial services. By the end of 2019, the company is going to add over one hundred different cryptocurrencies.
As previously reported, Ledger will create a solution to transfer data on the "green" energy to blockchain.