Crypto firm Ledger to launch iPod-inspired crypto wallet in May, after months of delays

LONDON — Crypto wallet maker Ledger says it is set to launch its much-anticipated hardware wallet Ledger Stax, which was designed by iPod inventor Tony Fadell, in May.

Ledger, which makes hardware and software wallets for crypto investors, first announced Ledger Stax in 2022 after a plunge in crypto prices in the wake of the collapse of crypto exchange FTX.

The product, which CNBC got hands-on with at the time, is roughly the same size as a credit card and lets users track their crypto holdings on an E-ink display, similar to technology used by Amazon in its Kindle line of e-book readers.

Speaking with CNBC at the Blockworks Digital Asset Summit in London, Ledger CEO Pascal Gauthier said that he expects the Ledger Stax will launch soon.

"Stax is coming out in two months," Gauthier told CNBC onstage Tuesday at the event. "We finally nailed it, and it will be out very soon."

The Ledger Stax has been beset by a series of shipment delays over the past year due to issues with getting its E-ink display to work smoothly. The product has also reportedly faced production bottlenecks.

The startup has also been hit with a series of complaints from users due to delays to the launch of the device.

The primary factor holding up the launch of the wallet, according to Ledger's Gauthier, was trying to get its E-ink display to wrap around the device.

After this story was published, a Ledger spokesperson told CNBC an exact timeline on deliveries of Ledger Stax to customers will be issued by the end of this month.

"The Ledger team has been working around the clock to improve the yield on Ledger Stax displays, and has made significant advancements," a Ledger spokesperson told CNBC.

"Pascal shared our best case timeline today, which would see preorders