Samsung Invests $2.9 Million in Crypto Wallet Manufacturer Ledger

Samsung Ledger News Bit

Telecom giant has invested 2.6 million euros ($2.9 million) into crypto wallet manufacturer Ledger, the French financial publication Capital reports. The investment gives the France-based startup a nearly $290 million valuation, per the report.

The news came shortly after Korea reported that is developing a blockchain platform and native digital asset of its own. The project, which is being conducted by the South Korean tech giant’s blockchain division, is reportedly based on Ethereum’s network and the resulting cryptocurrency is dubbed “Samsung Coin.”

Korea cited an anonymous source who said, “We expect Coin to come out in the market, but the direction has not yet been decided.”

This article originally appeared on Bitcoin Magazine.

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