Ledger Live Adds Support for Stablecoin Lending
Pexels.com/Karolina Grabowska
Main page News, Wallet, Credit, Stablecoins

Ledger Live, a hardware wallet interface app, has presented a new feature that allows crypto hodlers increase their portfolio by lending cryptocurrencies.

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According to an official press release, users can access Compound lending services directly through their Ledger Live, where they can lend stablecoins USDT, USDC or DAI and earn interest. The wallet's team says that lenders will deposit cryptocurrencies into Compound’s smart contract, where in exchange they receive cTokens which represent the claim to lended assets and interests.

The APY, according to Ledger, is indicated individually "in the process of lending" assets.

However, the wallet's team highlights that the lending feature is powered by the Compound v2 Protocol, which is not created nor audited by Ledger. It is also not possible to borrow assets yet through Ledger Live, states Ledger's official Twitter page.

Ledger Now Supports ALGO Staking Feature

Previously in November, numerous users of the crypto hardware wallet lost over 1.15 million XRP tokens as a result of a phishing attack.

The attackers sent e-mails to wallet owners with a link to a fake version of the Ledger website, replacing the address characters with similar or identical spellings.

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