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.