Ledger Partners with Alchemy to Enable DeFi Lending to Its 1.5 Million Users

Alchemy Networks

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Categories: Cryptocurrency

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Ledger Partners with Alchemy to Enable DeFi Lending to Its 1.5 Million Users

Alchemy Networks, a crypto lending platform that combines centralized finance (CEFI) with decentralized finance (DeFi), has announced a partnership with hardware wallet maker Ledger. Since launching in April 2021, Alchemy Networks claims to have received more than US$50 million in gross deposits, and the integration with Ledger is expected to significantly increase those numbers.

Brandon Mahoney, co-founder of Alchemy Networks, highlighted the importance of allowing users to have complete control over their assets, adding that this integration sets it apart from other products in the market.

Ledger Holding Firm Despite Market Fall

Despite the bullishness in the cryptocurrency market, Ledger continues to act on behalf of the community. Last month, it launched an NFT-focused wallet, allowing 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.

Ledger has partnered with the cryptocurrency lending platform, Alchemy, to enable decentralized finance (DeFi) lending on their hardware wallets. Ledger bearer's can use their hardware wallets for collateral-free loans, through the Alchemy platform.

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