On August 16 the Switzerland-based digital asset exchange, Shapeshift AG, has announced the firm has acquired the cryptocurrency hardware wallet manufacturer Keepkey.
Shapeshift AG Acquires the Cryptocurrency Hardware Wallet Company Keepkey
This week the Seattle-based startup and digital asset hardware wallet creators, Keepkey, were acquired in an “all cash deal” by the multi-currency trading platform Shapeshift. Last year the hardware wallet company announced Shapeshift integration, which allowed Keepkey users to exchange cryptocurrencies without exposing their private keys online. Shapeshift says trading these assets directly over the ShapeShift API from the device’s interface, allows the company to focus on ease of use and security at the same time.
“Security is of critical importance when it comes to holding and trading digital assets,” explained Erik Voorhees, CEO of Shapeshift. “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.”
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.
A Non-Custodial Exchange Paired With Hardware Wallet Security
Shapeshift has made a name for itself over the years by integrating its API with nearly 50 blockchain companies, and wallet providers. Keepkey is the first hardware device to offer Shapeshift trading from within the user interface. The Swiss-based company says they will continue Keepkey distribution and aim to provide “the most secure storage wallet available with native support for trading all leading digital assets.”
Voorhees explains that the Keepkey brand and product line will remain the same, and expects the device to do well for the company as hardware wallets are currently in high demand. “Amid heightened interest in the concept of digital currencies, a simple, user-friendly cold storage wallet with native exchange functionality is one key to wider adoption,” said Voorhees.
Shapeshift thinks consumers will appreciate the tethered partnership between Shapeshift’s trustless exchange and hardware wallet security.
“With Shapeshift, users don’t need to leave funds on 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,” Voorhees added.
What do you think about Shapeshift’s acquisition of Keepkey? Let us know your thoughts in the comments below.
Images via Shutterstock, Shapeshift AG, and Keepkey.
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