Crypto wallet app Ledger Live integrates its first DeFi platform, ParaSwap

Crypto hardware wallet maker Ledger has integrated the first decentralized finance (DeFi) platform — ParaSwap — into its Ledger Live app.

The integration allows Ledger Live users to swap tokens on the Ethereum blockchain, via ParaSwap, without leaving their wallets. ParaSwap is a decentralized exchange (DEX) aggregator that supports various DeFi protocols, including Uniswap, Sushiswap, Balancer, and Curve.

When asked why Ledger chose ParaSwap over other similar platforms such as 1inch, Ledger's chief experience officer Ian Rogers told The Block that the aggregator offers an "easy to use interface." Both Ledger and ParaSwap are based in Paris, France.

Looking ahead, Ledger Live looks to support more DeFi platforms, said Rogers, without sharing any specific platform names."We're looking to integrate really anything that has a 'connect your wallet' button," on their platforms, said Rogers.

The Ledger Live app was launched in 2018 and enables buyers of Ledger's hardware wallets to buy, sell, and stake crypto from within the app. Ledger claims to have more than 1.5 million monthly users for the app.

Ledger recently entered the unicorn list after closing $380 million Series C funding last week, which pushed its valuation to more than $1.5 billion.