Ledger-to-Ledger? Hardware Wallet Integrates with Decentralized Exchange
Decentralized exchange Radar Relay has partnered with Ledger to allow for hardware wallet-to-wallet direct transfers.
Decentralized exchange startup Radar Relay has announced that it has added support for the Ledger hardware wallet.
In a post published Wednesday, the Øx order book provider announced the integration with Ledger, allowing people who use the hardware to transfer ether (the cryptocurrency of the ethereum network) or supported ERC-20-based tokens directly to another Ledger wallet.
The move is notable as it marks one of the first instances where a decentralized exchange allows users to trade funds directly from one hardware – that is, physical – wallet to another. Radar Relay is already integrated with the browser-based wallet MetaMask.
Ledger wallet owners can connect their devices to their computers, open their ethereum apps, and then use the Radar Relay app to send funds as needed. From there, users can choose their gas prices and tokens, and transfer their coins using the Radar app.
Thus far, the integration has won plaudits from some quarters of the cryptocurrency community. Responses to Radar Relay's announcement were primarily positive, with Twitter users calling the move "amazing" and "a glimpse of the future."
Radar Relay is built on top of the 0x protocol, first introduced last year, which seeks to facilitate fee-less transactions on the ethereum blockchain. 0x formed as a non-profit, as well, in order to encourage users to begin using the protocol. In August, 0x raised $24 million in an initial coin offering (ICO).
The move comes just under a month after RadarRelay raised $3 million in venture funding.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ledger and Radar Relay.
Ledger image via CoinDesk archives
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.