The hardware wallet company has stepped into the world of decentralized finance (DeFi).
Ledger, a producer of cryptocurrency hardware wallets, announced today that its users can now connect their devices to the DeversiFi decentralized exchange, or DEX.
Hardware wallets + DeFi
As a result of this integration, Ledger has become one of the first hardware wallet makers to step into the space of decentralized finance, or DeFi.
Its users now have the ability to trade cryptocurrencies, confirm transactions, and sign messages directly from their devices — all while retaining the control over their private keys.
Although DEXs are generally considered more reliable than their custodial counterparts, that greater security tends to come at a price of lower liquidity rates. However, the press release claims that users will get access to “instant settlement” and “deep liquidity”.
When asked about potential liquidity issues, a Ledger representative told Cointelegraph:
“In the coming months, Ledger will be launching new features such as buying and swapping, which will be available to everyone with a Nano, regardless of where they trade. Different coins have different liquidities on any exchange–we don’t necessarily see DEX liquidity as a problem.”
DeversiFi relaunched earlier this week, as incorporated Starkware’s zkSTARK layer-2 scaling technology.
The new platform is now reportedly able to process over 9,000 transactions per second, keeping other benefits of a decentralized platform.