Samsung Invests $2.9 Million in Crypto Wallet Manufacturer Ledger

Samsung Ledger News Bit

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

The news came shortly after CoinDesk Korea reported that Samsung is developing a 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.”

CoinDesk cited an anonymous source who said, “We expect Samsung 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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