Ledger taps MoonPay for instant crypto purchase and token swaps

Crypto hardware wallets provider Ledger and digital payment processor MoonPay announced on Monday new features and products to sweeten their service offerings.

The new features include the integration of MoonPay’s instant crypto purchasing and token swap capabilities into Ledger’s platform, Ledger Live.

Additionally, Ledger Academy will expand its educational offerings with new self-paced crypto trading tutorials that will also cover MoonPay’s services, the companies said.

“We are constantly working to bring better ease of use and access to crypto to Ledger users, while maintaining our industry-leading hardware security,” said Pascal Gauthier, CEO of Ledger.

The collaboration also introduces a limited-edition Ledger x MoonPay Nano X hard wallet, which is purple and includes a $25 crypto voucher from MoonPay. A one-year subscription to Ledger Recover, a key recovery service, will soon be available with this product.

This new initiative builds on the firms’ 2021 partnership, which first brought a MoonPay-enabled crypto buying option to Ledger Live. The ongoing partnership aims to simplify and secure cryptocurrency access for users worldwide.

MoonPay is a Miami-based crypto payments company that values itself at $3.4 billion. The firm is backed by investments from NBA star Paul George, former tennis star Maria Sharapova, and musicians Drake and Justin Bieber. The firm enforces basic know-your-customer (KYC) checks, such as providing personal information for verification.

MoonPay’s payments infrastructure provides a seamless and easily understood experience to investors to convert between fiat, cryptocurrency and non-fungible tokens (NFTs), further lowering the barrier to entry into the world of web3 early investing.

Ledger already allows users of its popular crypto hardware wallet to purchase cryptocurrency directly in the App with bank cards after it has inked a partnership with Canadian payments firm Nuvei. The agreement gives Ledger users a fiat onramp to conduct and settle crypto transactions, a grey area of business where a gauntlet of KYC requirements and other regulations kick in.