- Ledger and Hayvn kickstart a partnership to provide a safe off-ramp for crypto users.
- Through the bridge, Ledger Live users have a secure gateway from crypto to fiat money.
Partnership with Security in Mind
Hayvn, the Swiss-native digital-asset financial institution, is teaming up with Ledger. They decided to partner with the crypto hardware wallet provider, in a move to allow crypto users to convert their digital tokens into fiat currency. The collaboration will make it possible for Ledger Live users to exchange a variety of cryptocurrencies – Bitcoin, Ethereum, and more – for traditional money such as the US dollar and the euro.
Hayvn boasts an established regulated presence in the crypto space by offering a flurry of products and services. Specifically, tailored to lower the entry barrier to incoming crypto-native businesses. With the Ledger partnership, more users stand to experience a safe, secure, and reliable service. As a result, this can further pave the way for crypto to move closer to mainstream use.
Why Building Bridges Matters
Over the past few years, the world of Web3 evolved at breakneck speed. New participants onboarded every day, both as companies and consumers. Nowadays, there is a noticeable slowdown in the degree of market expansion. The quiet environment, however, presents an attractive opportunity for businesses to build bridges and form partnerships.
Hayvn and Ledger, through this collaboration, demonstrate their commitment to the mission to build the foundation of the next era of internet, money, and transactions.
What’s the Rationale Behind It?
On the whole, users can leverage the safety and security of Hayvn’s enhanced payment systems when they want to offload their crypto and move into fiat money. Those who are in the know will tell you that security should not be prioritized over speed of delivery. In this case, it’s better to trust in a reliable off-ramp solution that took some time to develop, rather than launch a quick fix that could be broken into fairly easily.
Numbers in time: in 2022 bad actors in the blockchain space made off with about $2 billion in stolen assets in various bridge hacks and attacks on cross-chain interoperability.
With that in mind, Ledger and Hayvn ensure that no security trade-offs have been made. Therefore, the unveiling of the crypto-to-fiat bridge comes as a monumental milestone in providing crypto users with a seamless and secure financial gateway.