LONDON — Ledger, the developer of cryptocurrency wallets, has announced that its much anticipated hardware wallet, the Ledger Stax, designed by iPod inventor Tony Fadell, will be available in May.
Ledger, which creates hardware and software wallets for cryptocurrency investors, first launched Ledger Stax in 2022, following a drop in crypto prices caused by the failure of crypto exchange FTX.
The product, which CNBC tried out at the time, is about the size of a credit card and allows customers to track their cryptocurrency holdings on an E-ink display, similar to the technology used by Amazon in its Kindle line of e-book readers.
Speaking with CNBC at the Blockworks Digital Asset Summit in London, Ledger CEO Pascal Gauthier stated that the Ledger Stax will be available soon.
“Stax is coming out in two months,” Gauthier told CNBC onstage Tuesday at the event. “We finally nailed it, and it will be out very soon.”
Over the last year, the Ledger Stax has experienced a number of supply delays due to challenges with getting its E-ink display to function properly. The product has also reportedly encountered production constraints.
The business has also received a number of consumer complaints regarding delays in the device’s introduction.
According to Ledger’s Gauthier, the main reason for the wallet’s delay was trying to get its E-ink display to wrap around the device.
After this news was published, a Ledger spokeswoman told CNBC that an exact timeframe for Ledger Stax delivery to clients would be released by the end of the month.
“The Ledger team has been working around the clock to improve the yield on Ledger Stax displays, and has made significant advancements,” a spokeswoman for the company told CNBC.
“Pascal shared our best-case timeline today, which would see preorders begin shipping in the spring,” Ledger’s representative stated. “We’ll have a full update by the end of March for customers who preordered, and we can’t wait to deliver their Ledger Stax, a truly next-generation device.”
“This is just the start of a big year for Ledger,” the representative continued.
The Stax, priced at $279 and available for preorder since late 2022, will resemble a miniature smartphone or credit card reader.
It measures 85 millimeters long and 54 millimeters wide, making it nearly the same size as a credit card. It also weighs roughly 45 grams, which is less than the iPhone.
Users can deposit and exchange a variety of tokens, such as bitcoin, ether, cardano, solana, and nonfungible tokens (NFTs).
Crypto firm Ledger to launch iPod-inspired crypto wallet in May, after months of delays
