Copy link
Increase text size
Decrease text size
Link copied

Crytpo asset exchange ShapeShift acquires Bitfract

Thu, 09 Aug 2018, 11:15 am UTC

Digital asset exchange ShapeShift has acquired Bitfract, an Austin-based software firm, as part of its efforts to expand its offerings.

Bitfract is the creator of a tool that enables users to trade bitcoin into dozens of digital assets in a single transaction. Users just need to choose their assets and allocate percentages, input the destination wallet addresses, and send bitcoin.

The tool was built to help users gain exposure to diversified digital asset portfolios in a secure and simplified manner. It would also help them save time as well as fees.

“The Bitfract team made expert use of ShapeShift’s open API to build a product that we ourselves were planning to build,” said Erik Voorhees, Founder and CEO of ShapeShift. “This demonstrated a great alignment of strategy and thinking, and their execution was so exceptional that we wanted to bring their talented team and technology on board.”

According to the official announcement, the Bitfract tool will be maintained and continue to operate following the acquisition. ShapeShift said that Bitfract platform’s functionality that provides “multiple output transactions” will be incorporated into its core platform in the near future.

“We believe in a decentralized future where individuals freely control their digital wealth, and our team is honored to work alongside Erik and everyone at ShapeShift to make this a reality,” said Willy Ogorzaly, Co-Founder and CEO of Bitfract.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $9,624.26 (-4.94%)
  • Ethereum (ETH) $259.37 (-7.46%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $379.34 (-8.78%)
  • Bitcoin SV (BSV) $298.09 (-3.09%)
  • Bitcoin (BTC) $9,624.26 (-4.94%)
Feb 20, 2020 (Thursday)
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
US Presidential candidate Michael Bloomberg proposes crypto regulatory framework
IRS invites crypto firms to discuss cryptocurrencies and related issues
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Banking giant Citi backs blockchain trade finance network Contour
Bank of Korea to develop blockchain-based bond management system
Northern Data, Canaan partner to cooperate on AI, blockchain and datacenter operations
Crypto Technicals: ETH/USD closes above 5-DMA, set to resume bullish momentum
Nebulous launches blockchain-powered file sharing platform ‘Skynet’
Crypto Technicals: BTC/USD consolidates previous session's spike, 'Golden Cross' keeps scope for further upside
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.