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Ledger Wallet to Incorporate Atomic Swaps Using SWFT Protocol

source-logo  cryptoglobe.com 09 October 2019 09:02, UTC

Ledger, the hardware cryptoasset wallet producer, is to integrate cryptocurrency atomic swaps to its platform utilizing the SWFT cross-blockchain transfer protocol into its companion app Ledger Live.

An atomic swap uses smart contracts to enable the instant exchange of one cryptocurrency for another without the need for intermediaries such as exchanges. This presumalby means that using the Ledger Live app users will be able to move cryptocurrencies while they're safely stored.

The company said in a press release - seen by Cointelegraph - the new service would be called Ledger Live, but didn't specify a launch date. SWFT Blockchain founder and chief executive offcer Ramble Lan was quoted as saying:

As the cryptocurrency market moves from speculation to real-world use, the need to swap between currencies will grow. At SWFT Blockchain, we believe swaps and payments are the next big thing and we are confident our tools will help companies like Ledger adapt to this new demand.

According to the publication Ledger has also revealed SWFT will be using its multi-authorization governance infrastructure service, Ledger Vault. This means, according to Ledger Vault's global head Demetrios Skaltotos, that "assets managed by SWFT Blockchain will be secure both at rest and in transit."

He added this means users will be able to instantly access their funds in a secure manner. Demetrios touted this as a "clear message" to the community that SWFT Blokchchain does not "compromise when it comes to security."

Featured image by Andrea Natali on Unsplash