Leading Swiss cryptocurrency exchange ShapeShift has announced the acquisition of Seattle-based KeepKey, a digital asset hardware wallet provider.
With this vertical integration, ShapeShift users will be able to safely store their assets on a KeepKey device, while trading these assets directly over the ShapeShift API from the device's interface.
“Security is of critical importance when it comes to holding and trading digital assets. One of our priorities has always been to make the exchange experience as safe and easy for users as possible, and our pairing with KeepKey enables us to provide an unmatched customer experience,” Erik Voorhees, founder and CEO at ShapeShift, said in a statement. “Users can hold their coins on the hardware device and exchange them on demand within the wallet, without even visiting a website. When you pair the KeepKey hardware wallet with ShapeShift’s exchange, the experience is magical.”
Founded in 2014, KeepKey supports a number of popular digital assets including Bitcoin, Ether, Litecoin, Dash, and others. It integrated ShapeShift’s API over a year ago. Due to high demand by users, ShapeShift said that there would be no changes to KeepKey brand and product line. KeepKey will continue manufacturing and distribution of the device. Furthermore, the acquisition will provide increased capital for inventory and security expertise.
“This partnership will not only guarantee the future success of the KeepKey brand and product line, but joining the ShapeShift team will enable us to focus on continuing to work on developing better technology and security for crypto-holders,“ Ken Hodler, Chief Technology Officer at KeepKey, said.
“With ShapeShift, users don’t need to leave funds at an exchange. With KeepKey, users don’t need to leave funds on any computer whatsoever. We see a future in which keys are kept on hardware, and non-custodial exchange occurs directly from the hardware,” concluded Voorhees.
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