Ledger and Concordium Join Forces to Enhance Secure Payments and Identity Verification

In an ambitious move to elevate the landscape of digital transactions, Ledger has announced a strategic partnership with Concordium, the company known for its compliance-ready Layer 1 blockchain. This collaboration is set to introduce a pioneering functionality called "1-Click Verify Pay," designed to allow Ledger's extensive user base to engage in secure, verified, and privacy-focused transactions using stablecoins directly from their hardware wallets.

The integration marks a significant step in bridging the divide between stringent security measures and the practical utility essential for everyday transactions. By leveraging Concordium's innovative protocol-level identity verification and an array of stablecoins already established within its network, Ledger users will now be equipped to handle their financial activities seamlessly.

Boris Bohrer-Bilowitzki, CEO of Concordium, stated, "Our collaboration with Ledger extends beyond just increasing transaction volume. It’s about harnessing the speed and efficiency of blockchain technology to revolutionize everyday payments. Together, we are crafting a world where secure, verified stablecoin transactions are not only possible but accessible to everyone."

At the heart of this newly introduced functionality is Concordium's distinctive protocol-level identity and zero-knowledge proof technology, which allows Ledger users to verify their identities on the blockchain using a Concordium ID. This verification process utilizes privacy-preserving ZKPs that can confirm critical attributes (such as age or jurisdiction) without exposing personal information. As a result, users can execute payments faster and at a reduced cost while ensuring reliability through stablecoins on the Concordium blockchain.

Additionally, Ledger hardware users can effectively manage their Concordium accounts and securely sign transactions for CCD (Concordium’s native token) along with PLTs (protocol-level tokens/stablecoins). They can also delegate and stake CCD under the robust security frameworks established by Ledger. The built-in privacy and compliance features, which include identity verification conducted off-chain and a commitment to disclose identities only under lawful processes, alongside zero-knowledge proofs, ensure that user privacy is never compromised even as regulatory compliance is maintained.

Ian Rogers, Chief Experience Officer at Ledger, commented on the partnership by expressing, "Our goal has always been to safeguard users' digital assets, keeping their most valued possessions secure. We take great pride in collaborating with Concordium, a partner that prioritizes the value of blockchain technology in both security and payments. Traditional payment systems are no longer suitable for modern applications and require complete transformation in their operational foundations. We are delighted to weave Ledger’s robust security framework throughout the ecosystem, giving users greater freedom and options."

This partnership not only solidifies Concordium's position as a credible player in the PayFi sector but also highlights its ongoing growth and innovation trajectory within the blockchain landscape.

About Concordium

Concordium is a scalable Layer 1 blockchain equipped with a unique identity layer at the protocol level to safeguard verified and private user interactions through zero-knowledge proof technology. Launched in 2018, this research-driven platform enhances financial transactions with programmable Protocol-Level Tokens and facilitates advanced PayFi options, including compliance controls and time-lock mechanisms. As a forward-thinking blockchain solution, Concordium is committed to enabling real-world adoption of stablecoins while adhering to thematic regulatory frameworks. For more information, visit Concordium's official site.

About Ledger

Celebrating its 10th anniversary in 2024, Ledger stands as a global leader in the domain of Digital Asset security for both individuals and enterprises. With a remarkable track record that includes over 7.5 million devices sold across more than 165 countries, Ledger ensures the safety of more than 20% of the world’s cryptocurrency assets. The esteemed security team, Ledger Donjon, is recognized globally for its expertise in fortifying the world of digital assets against threats and risks. Users are encouraged to invest not merely in a hardware wallet but in a comprehensive Ledger security solution for their digital assets.