Ledger, a prominent hardware cryptocurrency wallet platform, has integrated real-world financial apps with Celo, a blockchain for low-cost, fast money transfers. Integrating Celo into Ledger Wallet allows consumers to receive, exchange, and send Celo-based assets across different chains. According to Ledger’s official press release, this partnership will give users access to a wider range of features within the Ledger Wallet ecosystem. This development therefore improves the experience of interacting with Celo’s network.
Ledger Wallet enables full backing of $CELO and Mento-based stablecoins
As part of the integration with Celo, Ledger Wallet now backs $CELO separately from Mento Labs’ local stablecoin. Mento stablecoins include $cREAL, $cGHS, $cCOP, $cEUR, and $cUSD, which correspond to the Brazilian Real, Ghanaian Cedi, Colombian Peso, Euro, and US Dollar. Each asset enables on-chain foreign exchange rationalization. With this in mind, users can take advantage of reduced arbitrage risk, faster transfers, and reduced payment costs around the world, with one block finality and less than one cent fees.
Separately, Ledger Wallet leverages fee abstraction and allows payments with ERC-20 tokens, increasing cost efficiency and simplicity of cross-border transfers. In discussing the move, Rene Reinsberg, Chairman and Co-Founder of the Celo Foundation, highlighted Ledger’s role in accelerating cryptocurrency adoption with user-friendly and secure Web3 tools. According to Reinsberg, the platform’s mission is to improve the accessibility of financial tools, especially in underserved areas.
Similarly, Jean-François Rocher, Ledger’s vice president of consumer services, said the integration will enhance the ability of individuals to conduct foreign exchange activities safely. With this, Ledger Wallet’s Celo functionality is expected to further expand, and developer teams from both organizations are stepping up their support. Scheduled updates take into account Ethereum Pass support, making Celo an Ethereum L2 scaling solution that works within Ledger’s ecosystem.
Improving cryptocurrency accessibility, asset management, and broader interoperability
Ledger Wallet said that as a result of the Celo integration, consumers can expect relatively comprehensive cross-chain tools, improved interoperability, and broader asset management. Additionally, users can also avail step-by-step guidance via the Ledger Help Center, ensuring a seamless onboarding process. Overall, this integration highlights an important move to provide secure, low-cost, and fast blockchain transfers to mainstream cryptocurrency users around the world.
