Author: Jacob Oliver, CryptoSlate; Translation: Song Xue, LianGuai
Ledger announces cooperation with global payment giant LianGuaiyLianGuail. This partnership aims to provide users with a seamless and secure platform to explore the world of digital currencies.
This collaboration allows US users to directly purchase cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) through the linked LianGuaiyLianGuail account via the Ledger Live companion application, while complying with state laws. It is worth noting that those who have previously purchased cryptocurrencies through LianGuaiyLianGuail can now make purchases on Ledger Live without additional verification. The acquired digital assets will be automatically transferred to the user’s Ledger hardware wallet.
To utilize this feature, users simply need to open the Ledger Live application, navigate to the “Buy” section, select the desired cryptocurrency, specify their country/region, and then choose LianGuaiyLianGuail as the payment method. After a successful transaction on the LianGuaiyLianGuail interface, the digital assets will be securely sent to the user’s Ledger device.
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However, for those who have not conducted encrypted transactions using LianGuaiyLianGuail, creating a LianGuaiyLianGuail account or undergoing “Know Your Customer” (KYC) verification will be mandatory.
Ledger’s Chairman and CEO, LianGuaiscal Gauthier, expressed enthusiasm for this collaboration, stating, “LianGuaiyLianGuail and Ledger are both committed to ensuring secure, fast, and seamless transactions. By combining Ledger’s unparalleled security with LianGuaiyLianGuail’s twenty years of expertise in digital payments, our goal is to provide a robust platform for cryptocurrency transactions.”
Regulating Stablecoins
This collaboration follows LianGuaiyLianGuail’s recent announcement of launching their USD-backed stablecoin, LianGuaiyLianGuail USD (PYUSD), on the Ethereum blockchain. LianGuaiyLianGuail’s new stablecoin is regulated by the New York State Department of Financial Services and supervised by LianGuaixos Trust Company, aiming to bridge the gap between fiat currencies and digital currencies, with the potential to significantly reshape the landscape of digital payments.
However, this integration has not been without criticism. US Congresswoman Maxine Waters recently expressed concerns about the lack of a comprehensive federal framework to regulate stablecoins like PYUSD, which are pegged to the US dollar. Waters emphasized the need for strong regulation to protect users and ensure financial stability. Waters’ concerns stem from LianGuaiyLianGuail’s massive global customer base, surpassing many major banks.
Despite potential regulatory barriers, Ledger, with over 1.5 million active users, remains committed to providing a secure and user-friendly platform to facilitate cryptocurrency transactions. With the Ledger Live application, users can access an increasing number of decentralized applications (DApps) while ensuring the security of their private keys on their Ledger device.
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