Location, August 21, 2024 — SwapKit.dev, a provider of cross-chain infrastructure solutions, has announced its upcoming integration with BitPay, a leading Bitcoin and cryptocurrency payment processor. This integration, scheduled to launch on August 22, 2024, will enable BitPay Wallet users to exchange a broader range of digital assets directly within their wallets, utilizing cross-chain liquidity through THORChain.
This collaboration will extend the functionality of BitPay Wallet by allowing users to access and swap between various cryptocurrencies, including native Bitcoin, Bitcoin Cash, Ethereum, Dogecoin, and Litecoin. In addition, the integration will support over 4,800 ERC-20 tokens, providing users with increased flexibility in managing their digital assets. The integration leverages SwapKit’s cross-chain decentralized exchange (DEX) aggregator, which is designed to automatically select the most efficient swap route to optimize pricing for users.
Keaton Freeman, Partnership Director at SwapKit, noted that this integration is aimed at improving the crypto payment experience for both merchants and customers. “The integration with BitPay allows businesses to offer a wider range of payment options, potentially simplifying the checkout process,” Freeman stated.
The partnership is intended to address several challenges associated with cryptocurrency transactions. By enabling cross-chain swaps within a single transaction, the integration is expected to reduce friction and complexity in the exchange process. This streamlined approach is designed to minimize slippage and improve the overall user experience for those conducting transactions in the BitPay Wallet.
BitPay Chief Marketing Officer, Bill Zielke, commented on the partnership, emphasizing its potential to enhance the range of assets available to BitPay users. “This integration gives BitPay Wallet users the ability to execute swaps across multiple networks and access a wider selection of cryptocurrencies while maintaining control of their assets through self-custody,” Zielke said.
The integration also offers opportunities for developers who use SwapKit.dev software development kit (SDK) and application programming interface (API). These tools enable developers to incorporate cross-chain swap functionality into their applications, supporting transactions across 14 different blockchains and over 5,500 crypto assets. The integration with BitPay is seen as part of SwapKit’s broader strategy to provide solutions that facilitate cross-chain functionality in various applications.
For BitPay users, this partnership offers a way to conduct cross-chain swaps with access to a wide range of digital assets while ensuring competitive rates. Swaps can be performed within the BitPay Wallet, a self-custody wallet app, as well as through other self-custody wallets on BitPay.com.
For more information about the integration and how it may impact crypto payments, visit SwapKit.
About SwapKit
SwapKit provides an API and SDK that simplify the integration of THORChain, enabling decentralized applications to implement multi-chain functionality. SwapKit supports swaps among over 5,500 crypto assets across 14 blockchains, offering a single-transaction solution for cross-chain exchanges. The platform is utilized by protocols such as THORSwap, KeepKey, and OneKey.
About BitPay
Founded in 2011, BitPay is a cryptocurrency payment processor. The company offers solutions for businesses to handle digital currency transactions, aiming to reduce fraud, lower payment processing costs, and facilitate cross-border payments. BitPay also provides a wallet that allows users to manage, swap, and spend cryptocurrency. The company operates globally, with offices in North America, Europe, and South America. For more information, visit BitPay.
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