The hardware-wallet maker Ledger announced a collaboration with the DeFi platform Compound to launch a new lending feature.
[BIG ANNOUNCEMENT] 🚀🚀🚀
Lending is now available through Ledger Live with our partner @compoundfinance!
Deposit $USDT $USDC or $DAI and get interest payments in return.
We’re sure you want to know how it works: https://t.co/a4RUhSlXbm pic.twitter.com/R0cPEfoeTX
— Ledger (@Ledger) November 16, 2020
Wallet holders will be able to lend their USDT, USDC and DAI in exchange for interest. Funds are deposited into Compound’s smart contract via Ledger Live, after which the user receives the corresponding amount of cTokens.
“By lending stablecoins, you can increase your assets without exposing them to the risks inherent in cryptocurrencies,” the statement says.
Ledger representatives noted that cTokens can be stored on hardware wallets.
Earlier, developers added several new features and technical refinements to the latest version of the Ledger Live app, including an auto-update option for applications and Ledger Live Manager.
Back in October, hardware-wallet users reported phishing emails allegedly from the Ledger team demanding an urgent update.
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