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Bruce B. Dec 8, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Tony Fadell, a career Silicon Valley executive known as the “Father of the iPod”, unveiled his latest project - a hardware wallet used to store cryptocurrency offline.

Fadell spent almost a decade at Apple under Steve Jobs, where he oversaw the design of the portable music player, and later helped create the company's best-known device, the iPhone.

After quitting Apple in 2008, he launched Nest Labs, a smart home-devices company. Nest was later acquired by tech giant Google for $3.2 billion.

Now Fadell has teamed up with Ledger, the French technology firm, to design a new offline cryptocurrency wallet.

The recent collapse of crypto exchange FTX, which has seen more than $1 billion of customer’s funds vanish, prompted an unprecedented surge in demand for offline, or "self-custody", services such as Ledger.

Previous models released by Ledger, such as the Nano S, have been shaped like USB memory sticks.

Fadell's new design, the Ledger Stax, is a credit-card sized device featuring a curved spine and electronic-ink display.

"All of the secure hardware up to this point was like all the MP3 players before the iPod, and it was time for an iPod," said Ian Rogers, chief experience officer at Ledger.

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