Alkemi and Ledger have inked a partnership deal that has now made it possible for millions of Ledger users across the globe to enjoy decentralized finance (DeFi) lending and borrowing right from their Ledger Live interfaces. With the integration of Alkemi Earn into Ledger Live’s Discover section, users can earn yields on their Ethereum-based cryptoassets.
Alkemi Earn Comes to Ledger
Alkemi Network, a blockchain project focused on bridging centralized finance (DeFi) to DeFi via its institutional-grade liquidity network that allows both financial institutions and individuals to earn yields on their ERC-20 tokens, has partnered with leading hardware crypto wallet maker, Ledger, to bring DeFi to the latter’s users.
Per a press release shared with crypto.news, Alkemi Earn will be integrated into Ledger Live’s Discover section, making it the first DeFi lending and borrowing solution available directly to Ledger users.
For the uninitiated, Alkemi Earn is a lending protocol that makes it possible for both institutions and retail lenders and borrowers to co-exist side-by-side. With its Bank-Grade Verified Pool and a permissionless Open Pool, Alkemi enables institutional investors to access DeFi services in a trusted counterparty environment.
Alkemi Earn supports some of the most liquid on-chain asset markets in DeFi, including ETH, DAI, USDC, and wBTC. Alkemi Earn users also earn ALK tokens while borrowing and lending on the platform.
To access Alkemi Earn, Ledger users simply need to select Alkemi from the Discover section of Ledger Live and their assets will be put to work while remaining in the safety of the Ledger hardware wallet protection model.
Not Your Keys, Not Your Coins
Alkemi claims to have cumulatively received more than $50 million in gross deposits since its launch and its integration into Ledger Live is expected to boost that figure significantly.
Commenting on the huge milestone, Brian Mahoney, Co-founder of Alkemi Network said:
“Not your keys, not your coins,’ as the saying goes. With this native integration into Ledger Live, Alkemi Earn unlocks a protocol-powered cash management experience for Ledger’s community. This is what bridging CeFi to DeFi is all about.”
Founded in 2014, Ledger claims more than 15 percent of the world’s cryptoassets are secured through its Ledger Nano hardware wallets.
Headquartered in Paris and Vierzon, with offices in London, New York, and Singapore, Ledger is the world’s largest hardware wallet manufacturer, with more than five million devices sold globally.
Ledger’s companion app, Ledger Live is available on Desktop and Mobile, offering users a safe interface to use Ledger hardware wallets without undue risk of getting their crypto stolen over unsafe connections.
Via Ledger Live, Ledger users can easily buy and sell cryptocurrencies and access DeFi dApps directly from their interface.
“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,” said JF Rochet, VP of International Development at Ledger.
Ledger says its team of over 500 professionals is dedicated to developing a variety of products and services that enables individuals and enterprises to securely swap, grow, buy, store and manage cryptoassets, including the Ledger hardware wallets line.