Ledger Live Integrates DeFi for Stablecoin Yields

Hardware wallet provider Ledger is introducing DeFi stablecoin yields into its hardware wallet interface, Ledger Live.

The integration lets users earn between 5% and 9.9% APY on stablecoins USDT, USDC, USDS, and DAI, powered by Kiln Finance, a rewards management platform.

Kiln is integrated with leading DeFi protocols including Aave, Compound, Sky, Morpho, and Spark.

The move allows users who self-custody stablecoins, but still trust DeFi primitives' security, to connect to Kiln through the Ledger Live app, which offers a more secure alternative to browser-based externally owned accounts (EOAs).

Ledger Earn aims to provide a permissionless alternative to centralized exchange (CEX) yields that usually range between 2% and 5%, through an abstracted interface.

Even though the assets are held in a Ledger wallet, those using Ledger Earn still expose themselves to protocol risk and could endure a loss if any integrated DeFi protocols were to be hacked.