Ledger Partners with Alkemi to Enable DeFi Lending to its 1.5 Million Users

Alkemi Network, a crypto lending platform that combines centralised finance (CeFi) with decentralised finance (DeFi), has announced a partnership with hardware wallet maker Ledger.

The integration with Alkemi Earn means that Ledger’s 1.5 million users will be able to earn yields with their ETH, wBTC (wrapped Bitcoin), or USDC directly on their wallets’ interfaces:

Bridging CeFi with DeFi

Since launching in April 2021, Alkemi Network claims it has received over US$50 million in gross deposits, and the integration with Ledger is expected to boost those numbers significantly.

Alkemi Network’s co-founder, Brandon Mahoney, highlighted the importance of allowing users to keep full control of their assets, adding that this integration differed from other products in the market.

‘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.

Brandon Mahoney, co-founder, Alkemi Network

Ledger Holding Firm Despite Market Downturn

Despite a bleeding crypto market, Ledger continues to work on behalf of the community. Last month, it launched an NFT-focused wallet to allow users to securely store their NFTs and install up to 100 apps.

In December last year, Ledger launched the Crypto Life card, a debit card that allows users to spend crypto on goods and services or use it as collateral for cash purposes.