Key takeaways:
- Liquidity provider Alkemi Network and hardware wallet manufacturer Ledger have entered a partnership
- As a part of the deal, Ledger Live users will be able to tap into Alkemi Earn and benefit from decentralized DeFi borrowing and lending services
- Alkemi Earn is set to become the first Yield app on Ledger Live
Alkemi Earn to become the first DeFi lending protocol integrated into Ledger Live
Alkemi Network, an institutional-grade platform bridging CeFi to DeFi, and Ledger, one of the largest hardware wallet manufacturers in the world, have entered a partnership that will make DeFi lending and borrowing accessible to more than 1.5 million Ledger Live users.
Ledger Live is a software solution available on both desktop and mobile devices, which allows Ledger hardware wallet users to manage their devices, trade crypto, and tap into the booming sector of decentralized applications (dApps).
Alkemi Earn is a lending protocol that allows both institutional and retail investors to benefit from permissioned and permissionless liquidity pools (consisting of a Bank-Grade Verified pool and a permissionless Open pool) that include some of the more popular digital assets, including Ethereum, Multi-Collateral Dai, USD Coin, and Wrapped Bitcoin. In addition, users can earn the platform’s native governance and utility token ALK when using Alkemi Earn.
The integration with Ledger Live will further expand the availability of Alkemi Earn and likely boost the liquidity and user activity on the platform. To date, more than $50 million in total have been deposited since Alkemi Earn launched.
Alkemi Network co-founder Brian Mahoney had this to say about the integration with Ledger Live:
“‘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.”
Vice President of International Development at Ledger said in a statement that the company is excited about integrating Alkemi Earn as “the first Yield app” on Ledger Live and added that users will be able to grow their crypto portfolios “without centralized custodians.”
