invezz.com
Alkemi Network, a platform designed to help bridge DeFi and CeFi via an institutional-grade liquidity network, has announced integration with major hardware wallet maker Ledger to bring DeFi lending benefits to millions of users of the Ledger Live wallet.
Unlocking DeFi lending for Ledger Live users
The flagship product in the integration is Alkemi Earn, a lending protocol that brings retail and institutional borrowers and lenders together. The protocol offers access to yield earning opportunities through Ledger Live’s Discover section.
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Ledger has sold more than 5 million devices globally, with the Ledger Live app already allowing over 1.5 million users to securely buy and sell cryptocurrencies.
The app also allows users to access DeFi dApps, a feature that will now combine with Alkemi Earn’s functionality to provide lending and borrowing directly from their hardware wallets. This way, customers retain control of their assets even as they put them to work for passive income.
Brian Mahoney, the 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.”
Alkemi Earn currently supports ETH, DAI, USDC and wBTC. It also offers users a chance to earn ALK tokens when they use the protocol to borrow and lend.