Ledger Receives Startup of the Year Award From Ernst & Young

Francisco Memoria
  • Cryptocurrency hardware wallet manufacturer Ledger has recently received a startup of the year award from EY.
  • The company will now move on in the competition, to face other startups for a global prize.

French cryptocurrency hardware wallet manufacturer Ledger has recently received the Startup of the Year award from global accountancy giant Ernst & Young (EY) for the Ile-de-France region.

As The Next Web reported, EY runs an annual competition to find the best in the business world in the country, called the Le Prix de l’Entrepreneur de l’Année. The competition features three categories: the best entrepreneur, social commitment, and startup.

This year’s regional title for Ile-de-France was awarded to Ledger, a company that recently introduced two new apps for its Nano S hardware wallet: “HODL” and “Recovery Check.”

As CryptoGlobe reported these two apps run on the Ledger Nano S but need the device’s desktop application, Ledger Live, to be installed. The “HODL” app essentially helps users avoid address-related mistakes by helping the Nano S appear on their computers as a “virtual keyboard.”

The “Recovery Check” app essentially makes the wallet recovery process quicker and easier, so as to help users who lost their original hardware wallet restore their funds without going through a lengthy process.

Per TNW, the startup will now move on to the next round of competition, where it’ll face eight other startups. Out of these, one will advance to compete for a global prize. Ledger’s success has, as covered, seen it get interest from high-profile companies Google and Samsung ahead of its funding rounds.

It hasn’t been all positive for the company, however. A glitch in its wallet earlier this year resulted in losses for the users of its Ethereum Chrome application, and forced the company to temporarily close its Ethereum (ETH) and Ethereum Classic (ETC) infrastructures. At the time, Ledger promised to cover “100%” of the lost funds.

Ledger wallets are secure devices chosen by various cryptocurrency enthusiasts. The team behind the firm has, however, warned users should only purchase its wallets directly from it, or from a list of pre-approved sellers.