Following the recent additions of Counterparty and Monero, instant asset exchange service Shapeshift.io have today further expanded their service by integrating Tether, the first layer on the Bitcoin blockchain to allow fiat currency to be used in a similar way to Bitcoin.
With the new integration, customers are able to buy and sell Tether without the need to sign up. At present the service is limited to USD₮, but support for EUR₮ and tether JPY₮ as well as providing the ability for users to exchange between the full list of cryptocurrencies supported on the site will be added in the near future, something that was explained by Shapeshift Founder and CEO Erik Voorhess in the company’s press release today
“We are excited to begin the Tether integration with tether USD₮ and look forward to adding all the new currency tether tokens in the future.”
Craig Sellars, Co-Founder and CTO of Tether was equally enthusiastic about the new partnership, praising Shapeshift for the ease of their service
“ShapeShift is one of the easiest to use digital asset exchanges in the entire Blockchain ecosystem, built by true pioneers in this space,”
Tether aim to disrupt the legacy financial system by offering a modern approach to money, their service allows for the instant use of fiat currency on the Blockchain in the form of backed assets held in Tether’s reserve accounts, always maintaining a 1:1 ratio (1 USD₮ = 1 USD) with each currency held giving users the benefits of cryptocurrencies such as instant global transactions with the price stability of a traditional bank transfer. The company claims to be the most secure, fast and low cost way to transact with money
Shapeshift is a unique service that allows users to instantly exchange between over 2 dozen cryptocurrencies without a lengthy sign up service, making it the quickest way to trade. ShapeShift’s goal is to be the fastest, safest, and most convenient way to swap digital currencies