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Alkemi Partners with Ledger to Bring DeFi Lending to 1.5M+ Ledger Live Users

Mushu Butt by Mushu Butt
June 28, 2022 - 2:37 pm
in defi news, altcoins news, sticky
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According to the latest announcement, the Alkemi Earn app will soon be integrated into the Discover section of Ledger Live. This will make it the first Decentralized Finance (DeFi) lending and borrowing app that Ledger users will have direct access to. Ledger is the largest maker of hardware wallets, having sold over 5 million devices used to store cryptocurrency securely and reliably.

Its desktop and mobile companion program Ledger Live provides a secure interface for using Ledger hardware wallets without unnecessary danger of having their funds stolen over insecure connections. Moreover, Ledger Live allows users to purchase and sell cryptocurrencies as well as utilize DeFi dApps instantly from their interface.

Users of Ledger Live now have the opportunity, for the first time, to earn yield on their assets through DeFi lending and borrowing thanks to the integration of Alkemi Earn. By navigating to the Discover section and picking Alkemi, the resources will be put to use while staying protected by the hardware wallet security mechanism.

Optimal Solutions For Institutions & Retailers

Alkemi Earn is a protocol for lending that allows institutional and retail lenders and borrowers to coexist. By providing both a Bank-Grade Verified pool and a permissionless Open pool, Alkemi enables institutions to commit investment to DeFi in a trustworthy counterparty ecosystem. Since its introduction, the platform has accumulated more than $50 million in gross deposits, a number that will be bolstered by the connection with Ledger Live.

A number of the most liquid on-chain asset markets in DeFi are supported by Alkemi Earn. These currencies include ETH, Dai, USDC, and wBTC. When users borrow and lend on Alkemi Earn, they are also given the opportunity to earn ALK tokens.

Not Your Keys, Not Your Coins 

As the adage goes, “not your keys, not your coins,” Alkemi Earn focuses on the privacy and security of users. Alkemi Earn is able to provide the community of Ledger with a protocol-driven cash management experience now that it has been natively integrated into Ledger Live. This is the crux of the matter when it comes to connecting Centralized Finance and Decentralized Finance.

According to JF Rochet, VP of International Development at Ledger, “Ledger Live is your gateway to digital assets and Web3, and we’re excited to integrate the first Yield app into Ledger Live. With Alkemi, Ledger users will have more ways to grow their assets while enjoying all the benefits of crypto without centralized custodians.”

About Alkemi

Alkemi Network is bridging the gap between Centralized Finance and Decentralized Finance by constructing an institution-grade liquidity network allowing financial organizations and individuals to utilize professional DeFi and earn returns on their Ethereum-based virtual currencies. Earn, Alkemi’s flagship protocol, enables borrowing and lending in a compliant framework via a basic permissioned digital asset liquidity pool (ETH, wBTC, and stablecoins).

About Ledger

Ledger was established in 2014 and is the international platform for digital assets and Web3. More than 15% of the world’s cryptocurrencies are protected by Ledger Nanos. Ledger, with headquarters in Paris and Vierzon and offices in London, New York, and Singapore, has a team of more than 500 specialists working to develop an array of goods and services to empower businesses and individuals to safely buy, store, swap, grow, and organize cryptocurrencies. This includes the Ledger hardware wallets line, which has already sold over 5 million units in 180 countries.

Tags: altcoinCryptoDeFiLedger
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Mushu Butt

Mushu Butt

Mushu Butt is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media.In addition to being a skilled content writer, Mushu is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushu enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for Blockchainreporter.

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