Ethos (ETHOS), a mobile cryptocurrency storage and monitoring platform built on the blockchain, announced this week that it has partnered with ShapeShift, an exchange platform that allows traders to swap tokens instantly, to bring the instant swap functionality to the Ethos Universal Wallet.
According to the announcement, the integration of ShapeShift means that both retail and enterprise users of the Universal Wallet will soon have access to the liquidity and exchange services for dozens of cryptocurrencies and ERC-20 tokens.
Ethos states that all orders can be placed directly inside the Universal Wallet, with both settlement and order handling abstracted. This ultimately allows users to exchange their holdings without needing to go through a centralized exchange intermediary.
According to Ethos founder and CEO Shingo Lavine, “Ethos provides the infrastructure for a more robust digital economy that is truly easy to use and accessible to the average person. We want to partner with leading companies in the space to provide the best possible service while preserving the ideals and allure that cryptocurrencies hold.”
The addition of ShapeShift will help boost the functionality of the Universal Wallet, which already includes features like the SmartWallet, which allows users to securely store and manage coins on multiple blockchains, Watchfolio, a portfolio monitoring interface, and Coins, in-app coin profiles that feature charts, descriptions, reviews, ratings and more.
Ethos also recently announced a partnership with Payroc, a merchant payment processing service, to integrate merchant cryptocurrency payment capabilities into the Universal Wallet.
For ShapeShift, this is the second major announcement in the last few days. Earlier this week, the exchange revealed that it has acquired Bitfract to integrate its tool that allows users to trade bitcoin into dozens of digital assets in a single transaction. The Bitfract tool is designed to allow users to rebalance their portfolios without needing multiple transactions.
There is currently no set timeline for the roll-out of the ShapeShift functionality into the Ethos Universal Wallet, but the companies have shared that they are also planning on integrating ShapeShift into the Ethos Bedrock API, which is designed to bring blockchain protocols to businesses and institutions.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.