Ledger Introduces Physical ‘Recovery Key’ NFC Backup for Wallets

Hardware wallet manufacturer Ledger has unveiled a physical "Recovery Key" for its Stax and Flex devices, marking a significant advancement in crypto asset security. The NFC-equipped device stores a recovery key within a secure element, allowing users to regain access to their wallets by tapping the key against their hardware wallet and entering a PIN.

This innovation serves as a "spare key" for crypto wallets, offering a simpler alternative to traditional 24-word seed phrases without eliminating them entirely. Charles Guillemet, Ledger's Chief Technology Officer, emphasized the product's rigorous security testing, including audits by the company's WHITE hat hacking team, the Donjon, and external reviewers.

The launch includes reviewable code and a whitepaper, reinforcing Ledger's commitment to transparency. The Recovery Key represents a layered approach to security, providing users with a SAFE and user-friendly method to recover their digital assets.