Ledger partners with Exodus on new crypto swap feature
Exodus Movement (ticker: EXOD), the publicly-traded fiat-to-crypto services company, is partnering with blockchain hardware manufacturer Ledger on a new crypto swap aggregator, the companies announced Tuesday in a press release.
The so-called XO Swap feature will be integrated into the Ledger Live application and facilitate connections to third-party exchange API providers, thereby enabling swaps across thousands of crypto pairs directly from users’ self-custody wallets.
Ledger, one of the largest hardware wallet providers, is increasingly embracing the perspective of a multichain crypto industry and building services to make discrete blockchains less siloed.
“This integration prioritizes user control and security, distinguishing it from centralized exchange platforms,” the press release reads. A swap between crypto assets is a type of financial agreement between traders that occurs on-chain, enabling them to convert their holdings to another token.
These XO Swap transactions will be aggregated through multiple third-party trading platforms, delivering the assets directly to a user's Ledger wallet. It will launch first as a desktop service, with a mobile version expected later.
Self-custody wallet company Exodus Movement reported a quarterly loss of nearly $10 million in August, down from a profit of nearly $2 million in the same quarter last year.
