Alkemi Earn will be integrated into Ledger Live’s Discover section, becoming the first DeFi lending and borrowing app available directly to Ledger users.
Ledger is the largest hardware wallet manufacturer with over 5 million devices sold around the world, used to store cryptocurrencies safely and reliably. Its companion app Ledger Live, available on Desktop and Mobile, offers a safe interface to use Ledger hardware wallets without undue risk of having their assets stolen over unsafe connections. Ledger Live enables users to buy and sell cryptocurrencies and use DeFi dApps directly from their interface.
With the Alkemi Earn integration, Ledger Live users can earn yield on their assets through DeFi lending and borrowing for the first time. By simply going into the Discover section and selecting Alkemi, the assets will be put to work while remaining in the safety of the hardware wallet protection model.
Alkemi Earn is a lending protocol designed for institutions and retail borrowers and lenders to co-exist side-by-side. Offering both a Bank-Grade Verified pool, and a permissionless Open pool, Alkemi enables institutions to deploy capital to DeFi in a trusted counterparty environment. To date, the platform has cumulatively received in $50m+ in gross deposits since launching, with the integration to Ledger Live set to bolster this even further.
Alkemi Earn supports some of the most liquid on chain asset markets in DeFi including ETH, Dai, USDC and wBTC. Users also earn ALK tokens while borrowing and lending on Alkemi Earn.
“‘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,” said Brian Mahoney, Co-founder of Alkemi Network.
“Ledger Live is your gateway to digital assets and Web3, and we’re excited to integrate the first Yield app into Ledger Live. With Alkemi, Ledger users will have more ways to grow their assets while enjoying all the benefits of crypto without centralized custodians.” said JF Rochet, VP of International Development at Ledger.