Seeds of Wisdom RV and Economic Updates Monday Afternoon 4-28-25

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LEDGER LIVE ENABLES STABLECOIN YIELDS DIRECTLY FROM SELF-CUSTODY WITH NEW KILN INTEGRATION

▪️Ledger is enabling users to access stablecoin yields directly from self-custody via its Ledger Live hardware wallet companion app.

▪️Powered by Kiln, the feature is pitched as a way to access DeFi yields for USDC, USDT, USDS and DAI without going through “complex processes.”

Crypto hardware wallet giant Ledger says it will enable stablecoin yields directly from self-custody, in collaboration with DeFi infrastructure platform Kiln.

The feature lets Ledger users earn a passive income of 5% to 9.9% on USDC, USDT, USDS and DAI via several DeFi lending protocols, including Aave, Compound, Morpho, Sky and Spark, while maintaining self-custody.

Kiln operates as the backend, providing access to the protocols that users interact with via Ledger Live, Ledger VP of Consumer Services Jean-Francois Rochet told The Block.

Depositing assets into DeFi lending protocols, such as Aave, is currently the most popular way to earn yield on stablecoins. According to The Block's data dashboard, more than $2 billion in USDT has been borrowed on Ethereum alone.

However, instead of connecting their Ledger hardware to third-party web3 wallets and juggling multiple decentralized applications, Kiln abstracts away this complexity, enabling access to DeFi yields natively within the Ledger Live companion app, available on both desktop and mobile versions.

"Web3 browser wallets are typically insecure," Rochet said. "The direct integration offers enhanced security … without leaving the safety of Ledger Live or going through complex processes."

Ledger argues that the integration opens up access to DeFi returns in a more user-friendly way, including clear signing, a method of signing blockchain transactions so that the signed content is human-readable and easily verifiable.

Users simply enter the amount they wish to deposit and select the protocol with the desired APY from the dropdown, Rochet explained. However, the trade-off is that users receive slightly lower APYs than by going directly to the protocols, he acknowledged.

"Ledger is pioneering security-first yield generation in the DeFi space," the firm said in a statement. "More users than ever are entering crypto, and we're focused on making digital assets accessible without depending on insecure browser wallets or multiple dApps. With Ledger Live and Kiln, people now have transparent and easy solutions to earn rewards.  We're excited to see enhanced stablecoin capabilities made available to Ledger Live users."

Ledger claims that despite being some of the most widely used assets in crypto, only 4% of stablecoin holders currently earn yield on their USDC and USDT. "This integration unlocks stablecoin yield for users and grants full autonomy over digital assets, unlike centralized exchanges that take control and limit yields to dApp browsers," the firm said.

Close collaboration

Last year, Ledger and Kiln also teamed up to provide native access to liquid staking token restaking, enabling its users to restake assets on EigenLayer directly within the Ledger Live interface.

"Ledger has been a long-term partner of Kiln, and through our close collaboration, we have developed a deep understanding of the needs of their users," Kiln Co-Founder and CEO Laszlo Szabo said following the latest news. "Working together on the Kiln DeFi integration for Ledger is an exciting opportunity, and we're thrilled to help open up access to stablecoin rewards for millions of Ledger users."

The feature will offer yields on USDC and USDT initially, with DAI and USDS support rolling out later within Ledger Live. While Rochet said there is "definitely a plan to increase coverage," no specific additional assets are on the roadmap for now.

Ledger celebrated its 10th anniversary in 2024 and claims that its devices secure over 20% of the world's crypto assets, having sold more than 7.5 million crypto hardware wallets to customers in 210 countries.

Kiln manages over $11 billion in crypto assets, operating around 4.5% of Ethereum's and 2.6% of Solana's total staked assets.

@ Newshounds News™
Source:  The Block

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MASTERCARD AIMS TO POWER STABLECOINS FROM WALLETS TO MERCHANT ACCEPTANCE

Today Mastercard announced a ‘360-degree’ approach to stablecoins. It is positioning itself to service stablecoins much in the same way it does with card payments, to enable services for consumers, merchants and banks.

There’s much lobbying for position in the stablecoin sector, with 2025 predicted as the year that stablecoins move beyond crypto use cases. The race is on to see who can build the largest network of partners.

During the past week, Stripe announced it’s testing its new stablecoin solution based on the Bridge API for business payments. Citi forecast that stablecoins could reach a circulation of $1.6 trillion to $3.7 trillion by 2030. And Circle unveiled plans to launch the Circle Payments Network which aims to coordinate on and off-ramps, including collaborating with Deutsche Bank, Santander, Societe Generale and Standard Chartered.

Plus, in today’s announcement, Mastercard mentioned the potential for stablecoins to become ‘ubiquitous’. Last month startup Ubyx announced plans for a network for banks and fintechs to on and off-ramp an array of stablecoins, including smaller ones.

Mastercard’s range of stablecoin services

Turning to Mastercard’s announcement, it has already provided several of these stablecoin services for quite a while. It’s looking to expand its network of partners.

For consumers it makes stablecoins more user friendly by enabling crypto users to pay with stablecoins using Mastercard branded cards. Many crypto exchanges already provide cards, with OKX the latest to announce one.

On the merchant front, it is partnering with Nuvei and stablecoin issuers Circle and Paxos to enable support for merchants to accept stablecoins, whether or not the payment uses a card. The mention of Paxos is notable given a recent report by Coindesk that Visa plans to become a partner of the Paxos Global Dollar, although Visa hasn’t yet officially confirmed it. Paxos is also the issuer of PayPal’s PYUSD.

For crypto institutions, it provides the Mastercard crypto credential to support compliant remittances combined with user-friendly names.

Plus, Mastercard has the Mastercard Multi-Token Network (MTN), which aims to support an array of digital assets, not just stablecoins. MTN includes links to banks such as JP Morgan and Standard Chartered. So far it allows investors in assets such as Ondo Finance’s tokenized money market funds to on and off-ramp, but stablecoins are part of the plans.

“To realize its potential, we need to make it as easy for merchants to receive stablecoin payments and for consumers to use them,” said Jorn Lambert, chief product officer at Mastercard. “We believe in the potential of stablecoins to streamline payments and commerce across the value chain. Unlocking this is core to how we navigate the rapidly changing world, giving people and businesses the freedom they want by providing the choices they deserve.”  

@ Newshounds News™
Source:  Ledger Insights

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