Ledger Rolls Out ‘Crypto Life’ Debit Card In UK And Europe

It’s been just revealed that Ledger is making moves that support the mass crypto adoption. Check out the latest reports below.

Crypto wallet maker Ledger is rolling out its crypto debit card across the UK and Europe. They are doing this as a string of scandals in the ecosystem spurs interest in self-custody solutions.

Ledger’s Crypto Life (CL) card allows users to move crypto between Ledger hardware wallets and card accounts via companion app Ledger Live.

It’s also important to note the fact that Ledger card supports the French firm’s cold crypto wallets — which promote self-custody — CL is developed by London-based fintech Baanx, which states that “it’s not a bank” on its website.

Accoridng to the latest reports coming from Blockworks, “similar to other crypto cards already on offer, customers can earn 1% crypto rewards in bitcoin or USDT, or 2% in Baanx’s native token BXX, when funds are spent. Users can also receive paychecks denominated in bitcoin, ether or other stablecoins.”

Baanx’s website states that Contis Financial is authorized by the Lithuanian central bank. It’s also been revealed that card funds will not be covered by the country’s Financial Services Compensation Scheme or Deposit Insurance System.

“No other compensation scheme exists to cover losses claimed in connection with the account and associated card,” Baanx says in an FAQ.

The same notes revealed the following:

“We will however ensure that any funds received by you are held in a segregated account so that should we become insolvent your funds will be protected against claims made by our creditors.”

In other recent news, the financial advisory firm deVere Group CEO Nigel Green is optimistic that the crypto bear market is only a few months away from coming to an end.

Green said that the prices of Bitcoin (BTC) and other crypto assets would rise once inflation starts slowing down, and the central banks begin loosening monetary policy.