With THORChain, Ledger Live has revealed an intriguing alliance allowing users to do native cross-chain swaps straight from their app. Maintaining the confidentiality of their Ledger hardware wallet, this new ability lets users transfer cryptocurrencies across many blockchains, including Bitcoin for Ether.
On October 22, Ledger unveiled his first partnership with a distributed finance (DeFi) system to enable these kinds of exchanges. Typically, this process involves creating a duplicate version of the cryptocurrency, but with THORChain, users can conduct trades without the need for wrapped tokens. This invention allows users to exchange their original assets, increasing security and ease.
Ledger Live users may easily access the “discover” tab inside the app to use the new functionality. While maintaining assets safe, this upgrade increases the possibilities of the platform by allowing simpler trade, exchange, and staking of cryptocurrencies.
Apart from the connection with Ledger, there are indications that ThorChain could soon collaborate with the Web3 wallet of Binance, implying more improvements for the platform. Though unverified, ThorChain’s creator has said that more interesting innovations are just around the corner.
This cooperation follows ThorChain’s announcement of a notable alliance with the Rujira Alliance, created by combining many initiatives, including Kujira. This new collaboration seeks to build a strong DeFi ecosystem capable of rivaling big companies in the sector.
These developments position Ledger Live, providing simple, safe cross-chain transactions, to become a more versatile tool for bitcoin users. This cooperation enhances Ledger’s products and helps further the more general objective of increasing the availability of distributed finance to a larger audience.
