The integration allows users to seamlessly access cryptocurrencies through the Ledger Live companion app, combining the trusted reputation of both brands.
Ledger is a company that offers a range of products and services designed to help individuals and businesses securely purchase, store, exchange, and oversee their digital assets. One of its products is the Ledger Wallet.
Ledger wallet is a hardware wallet developed by Ledger to provide a secure way for individuals to store and manage their cryptocurrency holdings offline, protecting them from online vulnerabilities and hacking risks.
According to Ledger, the collaboration offers a straightforward solution for both crypto experts and newcomers. U.S. Ledger users can directly purchase Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) using their linked PayPal account.
Once done, the purchased crypto is then automatically sent to the user’s Ledger hardware wallet, ensuring security and control.
The payment company notes that new users will need to create a PayPal account or undergo a KYC verification process before using the service.
Speaking about the partnership, Pascal Gauthier, Ledger’s Chairman & CEO, highlights the shared commitment of PayPal and Ledger to secure, smooth, and efficient global transactions.
Gauthier expresses excitement about the integration, emphasizing PayPal’s long-standing role in digital payments and its alignment with Ledger’s asset innovation endeavors.
“We’re combining the uncompromising security of Ledger with PayPal’s leadership in secure payments technology to help facilitate a secure and seamless platform for user crypto transactions.”
Meanwhile, in the first week of August, PayPal launched its first stablecoins, PYUSD, to solidify its position in digital payments using a decentralized framework.
Backed by Paxos Trust Co., PYUSD is pegged to the US dollar and supported by deposits and similar cash equivalents, ensuring stability.
Also, it added a Cryptocurrencies Hub feature as part of its service, aiming to provide users with a gateway to explore the world of cryptocurrency.