Ledger Recruits Tony Fadell, Creator of the iPod, for New Crypto Hardware Wallet

The Ledger Stax hardware wallet was developed in collaboration with Tony Fadell, the well-known inventor of Apple's iPod and co-founder and former CEO of thermostat startup Nest.

According to Pascal Gauthier, Ledger's CEO and chairman, the company hoped to create a more fashionable and useful product with the Stax than the company's previous Nano S, which resembles a USB thumb drive more. It also hoped to create a product that could be widely adopted by cryptocurrency users.

The wallet is a credit card-sized gadget with built-in magnets that enables the convenient stacking of various gadgets. A wraparound e-ink display on the exterior can display transactional information as well as NFTs.

Compared to the $79 for the Nano S Plus and $149 for the Nano X wallet, the Ledger Stax will retail for $279.

Perhaps now is a good moment for Ledger to introduce a new hardware wallet, since interest in self-custody seems to be growing in the wake of the demise and asset freeze at FTX, a centralized cryptocurrency exchange, and other crypto businesses.