Ledger Live Integrates Paraswap to Enable Instant Token Exchange
- Paraswap will aggregate data from DEXs like Uniswap, Compound, and Sushiswap to provide the best prices and lowest fees.
- Users private keys will remain secure with their Ledger hardware wallets while swapping through the Ledger Live app.
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According to an announcement published on 14 June, the integration is a result of a direct partnership between Ledger and Paraswap. Paraswap is a decentralized exchange (DEX) aggregator, pooling in information from various DEXs to provide users with the best exchange rates—Uniswap, Bancor, Compound, Balancer, Sushiswap, etc. The service also enables users to access lower-than-market prices by splitting orders and swapping between DEXs.
Ledger users will be able to safely swap Ethereum tokens directly through the Ledger Live app. By accessing Paraswap through Ledger, users will remain in control of their assets, as their private keys will remain secure within their Nano hardware wallets.
This isn’t the first decentralized exchange service integrated with Ledger. Last year, the company partnered with Changelly to enable users to exchange cryptocurrency assets within the Ledger Live app. In April 2021, Ledger introduced floating swap rates through Changelly, decreasing fees and increasing the maximum amount of funds that can be swapped.
- Ledger faced backlash from the crypto community last week after announcing its Ledger Recover service, which will allow users to restore their private keys.
- The company has now said that it will delay the launch of Recover until it has open-sourced some core components of its OS and Recover codebase.
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- Unnamed sources have said that the company is currently in talks with interested parties to raise at least $100 million in a new funding round.
- The same people noted that Ledger had experienced growth in its business over the past months, as investors turn to cold storage.
- The so called Visa Crypto Life card will be launched in the U.K., Germany, and France in Q1 of 2022, while the U.S. release is scheduled for Q2.
- Ledger also partnered with FTX, giving its Ledger Live users access to the exchange’s liquidity, leverage, and trading options.