Noah and Ledger have announced the launch of the virtual EUR and USD accounts, available directly inside the Ledger Wallet app.
Following this announcement, the launch will give Ledger users the possibility to send and receive money not just from their own accounts, but also from third parties like employers, family, friends, and businesses.
This strategy means that salaries, remittances, and everyday payments are enabled to flow directly into Ledger Wallet, be instantly converted to stablecoins, and ready to use, all in one place. The integration marks Ledger’s first step into payments, with the global crypto firm partnering with Noah and its infrastructure in order to accelerate the process of its expansion.
More information on the Ledger and Noah partnership
According to the official press release, through the process of enabling EUR and USD virtual accounts inside Ledger Wallet, the collaboration aims to set money free for customers and partners alike. The initiative aims to also make digital payments accessible at scale, whether individuals pay salaries, send money home, or convert funds instantly into stablecoins. Both institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
In order to achieve this step change in access and make money move as easily as sending a text, each of the new virtual accounts can be opened in a secure and fast way, within the Ledger Wallet app. At the same time, each one comes with a unique IBAN, and the entire onboarding, conversion, and settlement flow will be handled by Noah’s regulated payment infrastructure. In particular, compliance is set to be completed by Noah’s KYC technology without the user having to leave the Ledger app, and without Ledger needing to take on the regulatory checks itself.
As the overall adoption grows, Noah and Ledger plan to introduce additional account features, new currencies, as well as further integrations. Furthermore, the two companies are set to focus on the process of building the infrastructure for a financial system that is instant, borderless, and built on trust.
