Ledger customers will now be able to exchange Ethereum-native tokens such as USDT, LINK, and WBTC directly in the Ledger Live app.
Hardware wallet maker Ledger announced yesterday that after integrating with ParaSwap, customers will be able to exchange Ethereum tokens directly through the Ledger Live app in the future.
Launched in 2018, the Ledger Live app already has more than 1.5 million monthly users, making it easy to buy, sell and stake cryptocurrencies within the app.
From now on, Ledger customers can also exchange their coins in the app, and quickly and cheaply through the use of ParaSwap.
ParaSwap is a decentralized exchange (DEX) aggregator that finds the best prices by aggregating more than 20 different DEXs, including Balancer, Uniswap, 0x, SushiSwap and Bancor. There are other, perhaps more familiar, DEX aggregators like 1inch and Matcha, but the Ledger team chose ParaSwap for ease of use.
ParaSwap raised another $ 3 million in a seed round in May, bringing the total to $ 5.7 million, with the support of Andre Cronje, Blockchain Capital and Alameda Research, among others. The DEX aggregator first launched on Ethereum before expanding to Polygon and Binance smart chain this year.
The Ethereum – based version of the decentralized application (Dapp) has seen an influx of activity over the past seven days; the number of users has increased by 25%, transactions have increased by 45%, and volume has increased by 56% – reaching $ 770 million in the last week.
The new Ledger Live integration allows users to exchange many Ethereum-native tokens, including USDT, Chainlink, Dai, Wrapped Bitcoin and Polygon. ParaSwap uses an API to split swap jobs between different DEXs and find the best routing job, providing users with the most competitive prices.
ParaSwap does not require an account because it is a decentralized service. Ledger customers simply need to download the ParaSwap dapp and create an Ethereum account on Ledger Live. The process should be secure as the user’s private keys remain secured in their hardware wallet.
Ledger Live plans to integrate additional decentralized financial platforms in the future. Ian Rogers, Ledger’s chief experience officer, told The Block: „We really want to integrate everything that has a’ connect your wallet ‘ button.“