Swiss firm ShapeShift.io has integrated the BitUSD and BTS digital assets into its instant exchange platform.
Consumers can now buy and sell BTS and BitUSD anywhere in the world instantly with Bitcoin, Ripple, Dogecoin, NXT, or over 15 other cryptocurrencies with ShapeShift.io.
Launched in August 2014, ShapeShift.io is an exchange platform that has integrated over a dozen cryptocurrencies to date.
BitShares is a community that builds open-source software upon blockchain technology, enabling the creation of decentralized, autonomous companies (DACs). BitShares uses an analogous core token with the same name (Bitshares, traded as symbol BTS). The platform’s market pegged assets track the value of conventional assets such as the US dollar or gold. BitShares’ BitUSD asset is specifically pegged to the value of $1 USD.
ShapeShift CEO Beorn Gonthier explained:
Bitcoin kicked off a cambrian explosion of digial asset development. Those assets which bring unique functionality to this new financial technology are added to our platform, and BitShares’ assets have been highly anticipated.
After the cryptocurrency exchange MintPal collapsed in October 2014, losing user funds, traders have increasingly realized the risk of leaving money on deposit with any third party. ShapeShift believes its innovation to operate more like a vending machine deals with such security issues, as customers can instantly deposit one coin and receive another one with no significant period of trust or custodianship required.
The Swiss company also has a strict “No Fiat” policy, meaning it does not use banks or political currencies anywhere in its operations.
Web services can now utilize the ShapeShift API to accept payment in BitUSD or BitShares. The payment will then be instantly converted to Bitcoin, or any other digital asset in which the site prefers to hold value.
Bitshares’ BTS holds a current Market Cap of $27.7 million, while BitUSD hold a Market Cap of $849.8 thousand.