ShapeShift introduces Decentralized Trading through THORChain

ShapeShift introduces Decentralized Trading through THORChain

ShepeShift, a U.S. headquartered firm that provides global trading of several digital assets through mobile and web platforms, has recently announced that their decentralized exchange mobile solution is now completely integrated with THORChain, allowing users to trade native bitcoin through Litecoin and Ethereum. The new technology is likely to be present on their web platform in the coming times.

According to a statement by Erik Voorhees, Founder and CEO, ShapeShift, the THORChain team has developed a technology that offers properties to trade bitcoin along with prominent chains for the first time. Erik also mentioned that the company is focusing on providing users with simplified, self-custody solutions to meet the growing decentralized trading demand.

Notably, THORChain helps solve the issues related to cross-chain trading by developing effective, bi-directional bridges between blockchains at a protocol level in a non-custodial manner.

Seemingly, ShapeShift that announced their decentralized exchange trading platform for ERC-20 and ETH assets in January 2021, has now expanded its operations and is working towards building its decentralized exchange assets which is available for trade through combination with the THORChain liquidity platform.

In addition to the above, Bitcoin and cryptocurrency users will be able to participate securely and privately while trading with other digital assets along with expanding their options of decentralized finance through a user-friendly platform.  

For the record, ShapeShift users including those that carry out trade through the new THORChain integration, may gain FOX Tokens with each trade.  

Established in the year 2018, ThorChain is a community-based project that focuses on allowing the exchange of assets across blockchains in a non-custodial manner. The firm’s mobile and web platform allow users from across the globe to safely buy, hold and trade digital asset platforms like Ethereum and Bitcoin.

Source Credit: https://www.prnewswire.com/news-releases/shapeshift-launches-decentralized-native-bitcoin-trading-through-integration-with-thorchain-301267955.html