In a strategic move to enhance its crypto trading capabilities, Exodus Movement (EXOD), one of the major crypto wallet brands, has teamed up with Ledger, a leading blockchain hardware manufacturer, to launch a new crypto exchange aggregator.
Ledger Partners with Exodus for New Cryptocurrency Exchange Feature
The announced partnership introduces the XO Swap feature, which will be integrated into the Ledger Live app.
XO Swap will allow users to connect to third-party exchange APIs to swap between thousands of cryptocurrency pairs directly from their custodial wallets. This new feature emphasizes user control and security, and differentiates itself from traditional centralized exchanges by providing on-chain swaps.
“This integration differentiates itself from centralized exchange platforms by prioritizing user control and security,” the companies said in a press release.
The unified exchange service will leverage multiple third-party platforms, allowing users to receive exchanged assets directly into their Ledger wallets. The service will initially be available on desktop, with a mobile version also expected to follow.
Known for its focus on secure crypto storage, Ledger aims to break down the barriers between different blockchain ecosystems by embracing the multi-chain future of the crypto industry.
Despite Exodus Movement’s recent financial struggles, which saw it report a quarterly loss of $10 million in August after making a profit of about $2 million last year, the partnership with Ledger represents a significant move to expand its service offerings and capitalize on the growing demand for secure, decentralized trading options.
*This is not investment advice.