Ledger to Add SWFT-Powered Transfers to Its Ledger Live App
Wallet producer Ledger plans to integrate cryptocurrency swaps powered by cross-blockchain transfer protocol SWFT into its companion app Ledger Live.
Update: As of 19:15 UTC, Oct. 10, this article has been updated to remove “atomic swaps” from described features of Ledger’s wallet.
Major hardware wallet producer Ledger plans to integrate cryptocurrency transfers powered by cross-blockchain transfer protocol SWFT into its companion app Ledger Live.
According to a press release shared with Cointelegraph on Oct. 8, “wallets with SWFT Blockchain integration allow their users to swap currencies without having to leave the app or worry about addresses.”
That being said, no date has been provided for the launch of the new Ledger Live feature. SWFT Blockchain founder and CEO Ramble Lan envisions the demand for such services to grow dramatically in the future:
“As the cryptocurrency market moves from speculation to real-world use, the need to swap between currencies will grow. [...] At SWFT Blockchain, we believe swaps and payments are the next big thing and we are confident our tools will help companies like Ledger adapt to this new demand.”
“A secure liquidity platform for SWFT Blockchain”
Ledger has also announced that SWFT will use its multi-authorization governance infrastructure service Ledger Vault. Thanks to this integration, “assets managed by SWFT Blockchain will be secure both at rest and in transit, creating a secure liquidity platform for SWFT Blockchain and its users,” the press release states.
Demetrios Skalkotos, the global head of Ledger Vault, added:
“We’re giving SWFT Blockchain the peace of mind that their assets are secure while ensuring their customers have instant access to funds in a secure manner. SWFT Blockchain is sending a clear message to their community that they do not compromise when it comes to security.”
Per the release, SWFT also operates SWFT Pay, “an instant exchange and payment aggregation platform with access to all major cryptocurrencies’ payment channels with 99.99% system availability.”
The service reportedly allows its users to “swap around 200 cryptocurrencies and pay with more than 100 different cryptocurrencies.”
As Cointelegraph reported in June, peer-to-peer cryptocurrency solutions project Liquality has launched its interface for cross-chain atomic swaps between Bitcoin (BTC), Ether (ETH) and stablecoin Dai (DAI) on the mainnet.