{"id":37476,"date":"2023-07-18T21:38:57","date_gmt":"2023-07-19T01:38:57","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/hardware-wallet-maker-ledger-targets-latam-growth\/"},"modified":"2023-07-18T21:38:59","modified_gmt":"2023-07-19T01:38:59","slug":"hardware-wallet-maker-ledger-targets-latam-growth","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37476","title":{"rendered":"Hardware Wallet Maker Ledger Targets LATAM Growth"},"content":{"rendered":"
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The crypto hardware wallet producer Ledger is looking to expand into the Latin America region, and is targeting growth in \u201cCentral and South America.\u201d<\/p>\n

Per Criptonoticias, the French firm has announced plans for an \u201cexpansion\u201d that Ledger hopes will \u201cstrengthen\u201d its supply chain \u201coperations\u201d across the \u201centire Americas region.\u201d<\/p>\n

The media outlet said Ledger has established \u201cofficial resellers of its products\u201d in Argentina, Brazil, Mexico, Chile, Colombia, Paraguay, Uruguay, and Colombia.<\/p>\n

But it also noted that many Central American countries, such as Guatemala, El Salvador, and Panama, as well as South American countries like Venezuela and Peru, \u201cdo not have official [Ledger] resellers.\u201d\u00a0<\/p>\n

\u201cUsers in these [nations] must pay high shipping costs for official products, or purchase them at a premium from less reliable sources,\u201d it noted.<\/p>\n

But, Criptonoticias suggested, Ledger\u2019s new focus \u201con expanding into Latin America\u201d could provide \u201ceasier access to Ledger products\u201d for consumers in the aforementioned nations.<\/p>\n

Ledger previously announced this year that it struck a partnership deal with a USA-based logistics firm to \u201cdistribute some of the inventory previously housed\u201d by its factories in Europe and Asia.<\/p>\n

The company said that would \u201cinitially focus on the US and Canada.\u201d<\/p>\n

But is also said it planned to \u201cextend the scope\u201d of its partnership to \u201cCentral and South America.\u201d<\/p>\n

Ledger Targets LATAM? Crypto Adoption Rises in Region<\/h2>\n

Crypto adoption is on the march in many of these nations, such as Panama, Peru, and El Salvador, nations where crypto mining and token-buying have spiked in recent years.<\/p>\n

But Venezuela\u2019s crypto adoption plans have taken a hit in the past few months, following the arrest of most of the nation\u2019s pro-crypto ministers on corruption charges.<\/p>\n

The country\u2019s state-run cryptoasset, the Petro (PTR), also appears to have essentially died, with government support largely removed.<\/p>\n

Ironically perhaps, Venezuela\u2019s government has offered high-level support for hardware-based crypto wallets in the past.<\/p>\n

Back in 2019, Venezuelan President Nicol\u00e1s Maduro was gifted a Trezor wallet from a reseller on state TV \u2013 and then proceeded to sing the device\u2019s praises.<\/p>\n

The Bitcoin (BTC) advocate Samson Mow last month claimed that Guatemala \u201ccould adopt BTC in an instant\u201d as its legal system permits the use of foreign currencies as a form of payment.<\/p>\n

Earlier this year, Ledger announced the launch of Ledger Enterprise TRADELINK, a platform that it says will offer features like off-exchange trading with regulated custodians.<\/p>\n

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Ledger said that the platform will offer users access to exchanges and brokers including Crypto.com, Wintermute, and Komainu.<\/p>\n<\/p><\/div>\n