Arculus’ Crypto Wallet to Boost Payment Card Firm CompoSecure’s Revenue: Needham

Posted on by American Coins & Gold

Arculus’ Crypto Wallet to Boost Payment Card Firm CompoSecure’s Revenue: Needham
Hardware crypto wallet Arculus will boost revenue at owner CompoSecure (NASDAQ: CMPO) as it seeks to gain ground on cold storage competitors such as Ledger and Trezor, Needham equity research analyst John Todaro told clients in a note Friday.Cold storage is a way of holding cryptocurrency tokens offline rather than on an internet-connected exchange.Todaro sees Arculus becoming one of the top three largest crypto hardware wallet providers by the end of this year, and expects continued material revenue growth from this segment throughout 2023.CompoSecure could sell 160,000 Arculus units this year and 840,000 units in 2023, Todaro estimated. While Ledger…