ShapeShift, a Swiss cryptocurrency exchange, has announced its full integration with THORChain, which allows direct trading of Bitcoin (BTC) with Ether (ETH) and Litecoin (LTC).
As of Tuesday, ShapeShift mobile users have the ability to make cross-chain exchanges without the need for intermediaries, proxies or counterparties of any kind. In the coming weeks, this capability will be expanded to include the ShapeShift web platform.
Eric Voorhees, founder and CEO of ShapeShift, explained the importance of THORChain integration:
We believe that funding should be open and unchanged. The THORChain team has created technology that brings these features to Bitcoin and other groundbreaking networks for the first time. ”
Voorhees added that the THORChain integration is “a continuation of our commitment to providing users with a convenient storage platform for their decentralized business needs.”
The growing chain operating market has made THORChain noticeable in recent months. The price of RUNE, the original cryptocurrency of the protocol, has grown nine times since the beginning of the year. At a current price of $ 11.40, RUNE has a market value of $ 2.6 billion, placing it in 49th place among active cryptocurrencies.
As Cointelegraph mentioned earlier, ShapeShift’s decentralized exchange incubation began in January with support for Uniswap, Balancer, Curve, Bankcor, Kuber, 0x and mStable. By doing this, ShapeShift has relieved users of the cumbersome Know Your Customer requirements, while providing better liquidity and pricing.
In his January podcast with Bankless, Voorhees described the rise of Uniswap as one of the hottest stories in the cryptocurrency field, and gave a clear indication that ShapeShift will continue to move in that direction. In the same month, Voorhees indicated that “all non-DEX trading on ShapeShift will be discontinued” later this year.