Ledger is collaborating with Exodus, a self-custody wallet provider, to develop XO exchange, a new crypto exchange aggregator.
Exodus Movement (ticker: EXOD), a publicly-traded fiat-to-crypto services company, has entered into a partnership with blockchain hardware manufacturer Ledger to develop a new crypto exchange aggregator, the companies revealed in a press release on Tuesday.
The Ledger Live application will incorporate the XO trade feature, which will enable users to trade across thousands of crypto pairings directly from their self-custody wallets. This feature will facilitate connections to third-party exchange API providers.
Ledger, a hardware wallet provider that is among the largest in the industry, is increasingly adopting the perspective of a multichain crypto industry and developing services to reduce the isolated nature of discrete blockchains.
“This integration separates it from centralized exchange systems, prioritizing user control and security,” states the press statement. A swap between crypto assets is a financial agreement between merchants that takes place on-chain, allowing them to exchange their possessions for another token.
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These XO Swap transactions will be combined through a variety of third-party trading platforms, ensuring that the assets are delivered directly to the Ledger wallet of the user. The desktop service will be the initial release, with a mobile version anticipated at a later date.
Exodus Movement, a self-custody wallet company, reported a quarterly loss of nearly $10 million in August, a significant decline from the nearly $2 million profit it achieved in the same quarter last year.
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