Ledger Expands Into AI-Era Security With New Nano Gen5 and Wallet App, Faces Pushback Over Multisig Fees

Ledger’s shift toward identity protection and institutional-grade tools amid backlash from developers

TL;DR:

• Ledger unveiled the Nano Gen5, Ledger Wallet app, and Enterprise Multisig system at its Paris Op3n event.
• The new lineup merges crypto asset protection with digital identity and AI-era security.
• Developers criticized Ledger’s new native multisig feature for adding transaction fees and excluding older Nano S users.

Ledger announced a sweeping upgrade to its ecosystem this week, positioning itself at the crossroads of digital asset security and identity protection in an increasingly AI-driven world. The Paris-based hardware wallet company revealed the Ledger Nano Gen5, a redesigned Ledger Wallet app, and an upgraded Enterprise Multisig platform during its Op3n event on October 23, 2025. The rollout marks a shift from purely hardware-based crypto storage to a unified system designed to secure digital assets, identities, and institutional operations under one brand architecture.

The company rebranded its hardware devices as “Ledger signers,” highlighting a broader mission beyond self-custody. The new Nano Gen5 arrives with Bluetooth and NFC connectivity, an E Ink touchscreen, and upgraded tools like Clear Signing, Transaction Check, and the Ledger Recovery Key — a physical tap-to-recover solution for lost wallets. Usability and aesthetics were co-designed by iPod creator Tony Fadell and interface designer Susan Kare, bringing a focus on personalization and simplicity to Ledger’s most advanced device yet. 

Ledger Chairman and CEO Pascal Gauthier called the Nano Gen5 “the most successful digital asset security device of all time, with millions sold and none ever hacked,” adding that it’s built “for the challenges and opportunities of today and ready for those coming in the future.” The device is now available globally at a $179 price point.

Ledger’s former Live app has also evolved into Ledger Wallet, described internally as an “intuitive control center for your digital value.” The application integrates decentralized applications such as 1inch and includes Noah’s “Cash-to-Stablecoin” feature for converting fiat currencies to USDC with zero added fees. 

Ledger Chief Experience Officer Ian Rogers emphasized that the new ecosystem targets users who take digital wealth management seriously, stating, “We support 100% of the top 100 tokens and far beyond, without ever compromising on security or ownership. Exchanges are walled gardens, and using a software wallet alone is like begging to have your wealth stolen.”

The institutional side of the release centers on the Ledger Enterprise Multisig platform, tailored for banks, custodians, governments, and foundations seeking secure treasury management and smart contract governance. Each transaction undergoes Clear Signing verification through Ledger devices, creating what the company calls a “single trusted point of truth” for multi-chain operations. The platform’s underlying hardware and software were tested by Ledger’s in-house Donjon security lab and reviewed by independent experts before release, extending Ledger’s reputation for hardware-grade integrity into enterprise-level applications.

However, the day following the product reveal, controversy emerged around Ledger’s new native multisig coordination system. The feature, designed to replace reliance on external tools like Specter or Sparrow, introduced new fees — a $10 flat charge on standard transfers and a 0.05% fee on ERC-20 token transactions, on top of existing network gas costs. 

The update triggered backlash from security developers who accused the company of monetizing trust. Security researcher “pcaversaccio,” a core contributor to the SEAL-911 crypto security network, described the new structure as a “cash-cow tactic” that betrays Ledger’s cypherpunk origins. Avalanche developer “Sarnavo” echoed the criticism, saying the Clear Signing system, while improving safety, was “being turned into a paywall.” Both cited concerns over Ledger’s closed-source coordination process, warning that its opaque backend undermines transparency for a product marketed as verifiable.

The controversy deepened when it became clear that the new multisig system excludes users of the original Nano S, once Ledger’s flagship model and still used by millions. The older device lacks the memory capacity for Clear Signing and other recent security protocols, leading some to accuse Ledger of sidelining its most loyal base. “Nano S owners are basically censored,” pcaversaccio said on X, reflecting a broader frustration among long-term users. Ledger has not yet issued a public response.

This article has been refined and enhanced by ChatGPT.