ShapeShift.io Integrates Tether into its Asset Exchange
ShapeShift.io has integrated Tether, the first blockchain-enabled platform to allow fiat currency to be used like Bitcoin, onto its instant exchange platform. Customers anywhere in the world can now buy or sell tether USD₮ instantly along with Bitcoin, Litcoin and Dash through ShapeShift.io. There is no signup process nor account required to use ShapeShift.
Beginning with the integration of tether USD₮, ShapeShift intends to add other tether currencies such as tether EUR₮ and tether JPY₮ as well as provide exchange between the full list of ShapeShift-supported cryptocurrencies in the near future.
As the digital currency ecosystem continues to rapidly grow, integration between platforms is accelerating. ShapeShift.io has risen quickly as the most convenient way to buy or sell the leading digital assets. Tether’s fiat-backed token, along with Bitcoin, Litecoin and Dash, can now be bought and sold on the exchange site.
“Tether provides a stable token to trade against, offering our users interested in the stability of a fiat-backed asset more variety in their exchanges on ShapeShift,” said ShapeShift Founder and CEO Erik Voorhees. “ShapeShift is excited to begin the Tether integration with tether USD₮ and look forward to adding all the new currency tether tokens in the future.”
Tether is the world’s first fiat currency token platform to exist on the Blockchain. With easy integration for Bitcoin businesses, Tether provides instant use of fiat currency on the Blockchain in the form of tethers which are backed 100% by actual assets in Tether’s reserve account that always maintain a one-to-one ratio with each currency held. Tether initially supports US Dollars (USD), with several more national currencies coming soon. Tethers can be stored, sent and received exactly like bitcoins and are redeemable for their underlying currency value using globally-accepted compliance standards.
“ShapeShift is one of the easiest to use digital asset exchanges in the entire Blockchain ecosystem, built by true pioneers in this space,” said Craig Sellars, Co-Founder and CTO of Tether, “Now with Tether’s digital cash, ShapeShift users have the benefits of both fiat and digital currencies, instantly.”
Uniquely, ShapeShift's model has set a new standard for security and consumer protection, by offering conversion services without the need for user accounts or deposits. ShapeShift's innovation is to operate more like a vending machine, in which a customer instantly deposits one coin and receives another one, with no significant period of trust or custodianship required.
Interested companies can now also utilize the ShapeShift API to instantly accept payment in tether USD₮, whereupon it will be instantly converted to Bitcoin, Litecoin or Dash.
ShapeShift is a new piece of infrastructure in Bitcoinland. It is how digital currency exchange should work. From start to finish you can change digital currencies in seconds, with no account required. No emails or passwords. No lengthy signup process. No accounts. No bid and ask orders. No friction. ShapeShift's goal is to be the fastest, safest, and most convenient way to swap digital currencies.
Tether is disrupting the legacy financial system by offering a more modern approach to money. By introducing fiat currency - digital cash - to the Bitcoin blockchain, Tether makes a significant contribution to a more connected Bitcoin ecosystem by adding Bitcoin benefits such as instant global transactions to traditional currency, and traditional currency benefits such as price stability to digital currency. With a commitment to full transparency and compliance, Tether is the most secure, fast and low-cost way to transact with money.