Ledger Crypto Custody Wallet To Add ERC20 Support For Its Ledger Live Service

    The famous crypto wallet provider Ledger has decided to upgrade its Ledger Live system. Now, the company is looking to add around 20 new tokens to its Ledger Live app. According to the reports, users could store ERC20 Ethereum-based tokens before, but this is all that they could do.

    While the hardware let them store the assets, they could not send it or receive them, which diminished their possibilities by adding the assets. If they wanted to interact with their assets before the newest update, they would need to use third-party dapps. MetaMask and MyEtherWallet were the two most common ones for this kind of operation.

    Now that the users have this new piece of software, they are able to get support for the ERC20 tokens, including several important stablecoins. Many tokens use the standard created by Ethereum, so this considerably upgrades the capacities of the wallet.

    According to Benjamin Arama, the product manager at Ledger Live, the introduction of this feature was always in the company’s road map. During his interview with The Block Crypto, he affirmed that most of the Top 100 tokens are ERC20-based, so this was a very important upgrade.

    He also affirmed that having a single app will help users. They will not need to use several apps anymore, which is why they will probably migrate to use the new feature instead of third-party solutions.

    Arama believes that new upgrades will be offered soon. DeFi support, for instance, is one of the planned upgrades that will let the clients of the company experience the next level of quality.

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    Gabriel Machado
    Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

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