Headquartered in Switzerland, ShapeShift, a renowned cryptocurrency exchange, has achieved a milestone by entering into a partnership with THORChain to enable Bitcoin trading with Litecoin and Ethereum on the portal. The full integration of ShapeShift with THORChain will allow exchange’s mobile customers to execute Bitcoin trading without the involvement of an intermediary, custodian, or a third-party entity. The BTC trading facility shall be available to ShapeShift’s web portal soon.
As per the announcement, THORChain liquidity tools will help ShapeShift add support for new decentralized assets to expand its range. It works as a community-driven solution that facilitates the exchange of assets between blockchains in a mon-custodial and simplified way. THORChain eliminates the cross-chain trading loopholes for users by creating efficient integrations in a permissionless way between blockchain networks at the protocol level itself. The team strives to reduce the complexities involved in asset trading across blockchains to promote the adoption of crypto.
The exchange initiated DEX trading for ETH and ERC-20 tokens in January, and since then, it is slowly expanding its cluster. The users, including those using the new integration, shall be entitled to earn FOX tokens on every transaction. The users can earn Rainfall rewards free of cost USDC tokens given to ShapeShift customers randomly while trading on the exchange.
Talking about the collaboration, the Founder and CEO of ShapeShift, Erik Voorhees, stated that THORChain would help the team leverage the security and immutability of financial transactions for the first time to the BTC traders. The exchange is dedicated to bringing the best services to the crypto industry. The integration with THOR will help further the core objective of the exchange to serve the crypto fans’ decentralized trading requirements.