Cryptocurrency Exchange Shapeshift Acquires Bitcoin Hardware Wallet Keepkey
The Switzerland-based digital asset exchange Shapeshift has announced that the company has acquired KeepKey, manufacturer of cryptocurrency hardware wallets.
According to the cryptocurrency exchange, by pairing the KeepKey hardware wallet with ShapeShift, users will be allowed to safely store their coins on a secure physical device while trading their assets directly over the ShapeShift API, which can be reached from KeepKey’s interface.
— ShapeShift.io (@ShapeShift_io) 16 August 2017
“Security is of critical importance when it comes to holding and trading digital assets,” Erik Voorhees, CEO of Shapeshift said. “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.”
KeepKey already had integrated ShapeShift’s API a year ago, allowing it to supporting the most popular cryptocurrencies. The firm’s objective is to support all leading digital assets providing the users with the “most secure storage wallet available.”
“This partnership will not only guarantee the future success of the KeepKey brand and product line, but joining the ShapeShift team will enable us to focus on continuing to work on developing better technology and security for crypto-holders,“ said Ken Hodler, Chief Technology Officer at KeepKey.
ShapeShift confirmed that the company will preserve KeepKey’s brand and product line. Furthermore, the acquisition of KeepKey will allow ShapeShift to “provide increased capital for inventory and security expertise.”
“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 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.