Baanx And Ledger Bringing Cryptodrafts to the Masses

February 1, 2022

Leveraging unique, proprietary technology, Ledger is a fast-paced and growing company developing security and infrastructure solutions for cryptocurrencies as well as blockchain applications for consumers and businesses. We are proud to announce that Baanx has partnered with Ledger to bring to our users the most secure way to store and use their crypto via our CL card technology.

With our latest approval from the FCA to carry out crypto activities, Baanx can now expand its present services by offering users secure ‘Cryptodraft’ swap products. Along with our partnership with Ledger, we now bring you the most secure way to store your crypto as well as acquire funding at 0% APR against your collateral.

Additionally, Ledger users can instantly transfer their digital assets to fiat currency and vice versa through the integration with the CL card and top up your Ledger wallets through Baanx payment gateways instantly.

Ledger rolling out with CryptoLife card allowing further digital asset integration into daily life

While Ledger is most known for its hardware wallets, the firm has been hard at work on Ledger Live, its software counterpart. Users may transfer and receive crypto assets using the Ledger Live software on PC and mobile but are not limited to just this. They can also purchase and sell crypto assets using third-party firms’ integrations. Staking is also supported by Ledger Live through partners such as Lido. All of this still stays directly connected to the hardware wallet in order to maintain security and all transaction confirmations go through the wallet as well.

With Ledger launching the CL debit card in collaboration with Baanx, we will now be able to harness the Ledger Live application and combine this with our services to bring about the most efficient digital asset integration to date. We are planning to make the card accessible in the United Kingdom in the first quarter of 2022.

After users receive their card, they can then proceed to load it with BTC, ETH, USDT, EURT, USDC, XRP, BXX, BCH, or LTC using the Ledger Live app. When using your card to make a purchase, cryptocurrencies are instantaneously converted to the amount you paid in fiat currency.

Finally, users that wish to open a line of credit backed by their crypto holding will be able to now, with Baanx able to offer Cryptodraft services to the Ledger community. Through the holding of the BXX token, users will be able to have a 0% APR Cryptodraft with up to 50% LTV. Users will also be able to stake their BXX tokens in order to receive rewards, all from the security of their Ledger wallets.