Ledger has announced its collaboration with PayPal, marking a significant step in simplifying cryptocurrency transactions. According to a joint announcement on August 16, the integration of Ledger Live software with PayPal offers U.S. residents with verified accounts the ability to purchase cryptocurrencies like Bitcoin, Ether, Bitcoin Cash (BCH), and Litecoin directly through Ledger Live without additional verification processes.
This new integration expands the existing roster of options for buying crypto on Ledger Live, which already includes partners such as MoonPay, Transak, Ramp, Simplex, Loopipay, and Mercuryo. With PayPal now added to the list, users can seamlessly acquire cryptocurrencies through Ledger Live, with the purchased assets instantly directed to their wallets. Notably, this process eliminates the need for a separate “withdrawal” action from the user’s side.
Pascal Gauthier, Chairman, and CEO of Ledger, emphasized that the collaboration aims to combine the security provided by Ledger with PayPal’s established prowess in secure payments technology.
Gauthier stated, “We’re combining the uncompromising security of Ledger with PayPal’s leadership in protected payments technology to help facilitate a seamless platform for user crypto transactions. Ledger is committed to simplifying the world of crypto, and PayPal is committed to making the movement of money as simple, reliable, and affordable as possible.”
With over 3 million Ledger Nano S hardware wallets sold since its inception in 2016, Ledger has secured its position as one of the most prominent hardware wallet manufacturers in the industry. However, the company encountered controversy in May due to the launch of a secretive recovery phrase storage service, causing confusion among users. The team later clarified the workings of their wallet to address the criticism.
While PayPal recently revealed plans to introduce a stablecoin named PYUSD on August 7, the joint announcement of August 15 does not include PYUSD among the list of coins that will be available for transactions on Ledger Live, at least for the time being.
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