Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more.

Start Earning Interest
Ad: Bybit - Make your first deposit and earn bonuses of up to $3,000, and more! Earn now!

Native Bitcoin trading is coming to ShapeShift via THORChain (RUNE)

The Erik Voorhees-owned crypto exchange integrated cross-chain protocol Thorchain to its platform yesterday.

Native Bitcoin trading is coming to ShapeShift via THORChain (RUNE)
Deposit and Earn Up to $3000 Bonus

ShapeShift, a non-custodial cryptocurrency exchange, announced yesterday that it was now fully integrated with THORChain, the decentralized cross-chain liquidity network, as per a release.

Users can now trade native (unwrapped) Bitcoin with Litecoin (LTC) and Ethereum (ETH) on ShapeShift’s mobile and desktop platforms.

The move allows Bitcoin traders and investors to participate more freely, securely, and privately in trading with other coins while expanding their options in the world of decentralized financeโ€”using a single user-friendly and incentivized platform.

Thorchain on Shapeshift

THORChain solves the problem of cross-chain trading by building efficient, bi-directional bridges between blockchains at the protocol level in a permissionless, non-custodial manner.

ShapeShift, which announced decentralized exchange (DEX) trading for ETH and ERC-20 assets in January, has now expanded its DEX assets available for trade through this integration with the THORChain liquidity platform.

“We believe finance must be open and immutable. The THORChain team has built technology that brings these properties to the trading of bitcoin and other leading chains for the first time,” said Erik Voorhees, founder and CEO of ShapeShift, in a statement.

He added:

“We saw the power of this technology and wanted to bring it to our users immediately. This is a continuation of our commitment to offering users an easy, self-custody platform for their decentralized trading needs.”

Only ShapeShift DEX users, including those making trades via the new THORChain integration, can earn FOX Tokens with every tradeโ€”qualifying them for Rainfall awards (free USDC rewarded to random ShapeShift users each time someone trades on the platform).

“The team saw an opportunity to provide a ‘public good’ network that would solve a weak point in the cryptocurrency ecosystem: decentralized, cross-chain exchanging,” said THORChain’s lead engineer.

The THORChain team remains pseudonymous, as is commonly seen in the industry for security, privacy, and project integrity reasons (as exemplified by Bitcoin’s founder, Satoshi Nakamoto). Their code is open source and available on Gitlab.

RUNE trades at $14.75 at press time and has a marketcap of over $3.4 billion.

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis
Price snapshots
More context
Join now for $19/month Explore all benefits
Posted In: , DeFi, Trading
Deposit and Earn Up to $3000 Bonus

Like what you see? Subscribe for updates.