Ledger increases the price of its iPod-inspired wallet by 40% and introduces a new mid-tier option.

• Ledger, a crypto firm, announced on Friday that it is raising the price of Ledger Stax, a hardware wallet created by Tony Fadell, from $279 to $399.
• In May, people who preordered the Stax device, which features an E-ink display and enables users to safeguard their crypto, started receiving shipments of the device.
• The Stax, which costs $249, is larger than the Ledger Flex and does not come with two-factor authentication for securing accounts with Google and Amazon.

Ledger, a French startup that produces a hardware wallet resembling an iPod, has increased the price of its Stax product by 40% just three months after it was released to customers. In addition, the company is launching a cheaper version as part of a major product revamp.

The Ledger Stax, featuring an E Ink display and enabling users to safeguard their crypto, will now cost $399, an increase from the original price of $279 when it was first introduced in December 2022.

Ledger has released its long-awaited hardware crypto wallet, Stax, and is now shipping units to those who preordered in May. The device was created by Tony Fadell, the inventor of the iPod and an investor in Ledger.

Ledger is launching a new crypto hardware wallet, the Ledger Flex, which has an E Ink screen like the Ledger Stax, in addition to increasing its price.

Pascal Gauthier, CEO of Ledger, stated that the company's devices currently secure over 20% of the world's crypto. He added, "Our new secure touchscreen category will make self-custody more accessible than ever before for more consumers and enterprises."

The Ledger Flex, priced at $249, is a smaller version of the Ledger Stax with a 2.8-inch display. Its design resembles a smartphone or credit card reader, taking inspiration from the iPod. The Ledger Flex will be available for purchase starting Friday and will begin shipping immediately.

Ledger's Stax and Flex devices allow for the deposit or exchange of various tokens, including ETH, BTC, LTC, and others, as well as non-fungible tokens (NFTs). NFTs are unique digital assets that represent ownership of a digital asset, typically artwork. Unlike other tokens, each NFT is distinct.

Two-factor authentication

Customers of Ledger mainly utilize their devices to safeguard their "private keys," which are numerical codes used to validate transactions and establish ownership of crypto wallets. Additionally, users can monitor their non-fungible tokens (NFTs) on their Ledger Flex and Stax wallets owing to the E Ink display.

But Ledger sees its wallets serving a much broader range of use cases.

The company is soon releasing a new software update that will enable users to access two-factor authentication on their Ledger Flex or Stax devices for logging into various apps, including Coinbase and Binance accounts.

When making a login attempt, simply wave the Ledger Flex over your phone and the NFC chip within the hardware wallet will approve the sign in.

Ledger aims to broaden its reach beyond the crypto community, who are often wary of utilizing centralized services controlled by large tech corporations such as Google and Amazon.

Ledger's crypto trading service, Ledger Live, is also available. With Ledger Stax and Flex, users can connect their devices to the Ledger Live app to verify device authenticity, receive updates, and install apps.

Why was Ledger Stax's launch delayed so much?

The company's first hardware wallet with displays, Ledger Stax, experienced delays due to supplier issues impacting the device's screen.

Gauthier of Ledger revealed to CNBC in March that the main obstacle to the product launch was a problem with the curved E Ink display. He stated in a fireside interview at a crypto event in London, "We finally got it right."

The Stax also had some other design peculiarities. The product features magnets, allowing for the stacking of multiple devices on top of one another, similar to credit cards.

In order to prepare for the launch of its new Flex device, the company has been working diligently to improve its supply chain.

In Vietnam, both the Ledger Flex and Stax are manufactured by a Taiwanese electronics contractor, which is also a significant supplier to Apple.

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