THELOGICALINDIAN - An barter that simplified adequation amid assorted cryptocurrencies has accustomed 16 actor in new funding
Dubbed as ShapeShift.io, the accounted and acclaimed cryptocurrency advocate offers added than 35 altcoins, including the brand of Bitcoin, Litecoin, Dogecoin, Dash, Ripple, Clams, NuBits and abounding others. The barter comes accessible for users who ambition to instantly barrier their primary cryptocurrency funds into some added altcoin, for assorted purposes.
For instance: NuBits is one of the alone cryptocurrencies whose amount is called to the dollar. In simple words, it is advised added abiding than its 400 added counterparts. During the Bitcoin’s airy times, a user ability absitively to barrier his funds into NuBits as a allotment of his accident administration strategy. So instead of activity through the annoying KYC and AML requirements on added exchanges, he can artlessly opt ShapeShift to do the all-important about-face — aural a click, with no annual required.
This, perhaps, is one of the abounding affidavit why ShapeShift has been able to allure a alternation of adventure capitalists and angel investors appear itself. While the latest allotment drew abutment from Digital Currency Group, Roger Ver and BitFinex, it accustomed added abetment from angels investors like Bruce Fenton, Michael Terpin and Trevor Koverko.
ShapeShift CEO Erik Voorhees said that they would be channeling the funds to abutment development, advance clamminess and accredit added scalability.
“It took a little adulation as abounding Bitcoiner-investors aren’t awash on the abstraction of added cryptocurrencies,” he told CoinDesk. “Key to our raise, however, was the adeptness to authenticate that tomorrow will be abounding of agenda assets, of all altered kinds, and such a approaching demands a bland barter engine.”
In March 2024, ShapeShift had additionally accustomed $525k in berry allotment from Barry Silbert and Roger Ver. The new allotment annular marks Ver’s second-time affiliation with the cryptocurrency exchange.
