Shapeshift users can now buy or sell tethered USD quickly along with Bitcoin, Litecoin and Dash through ShapeShift.io. There is no signup process or account required to use ShapeShift.
Beginning with the integration of tether USD, ShapeShift intends to add other Tether currencies such as tether EUR and tether JPY as well as provide exchange between the full list of ShapeShift-supported cryptocurrencies in the near future.
As the digital currency ecosystem continues to rapidly grow, integration between platforms is accelerating. ShapeShift.io has risen quickly as the most convenient way to buy or sell the leading digital assets. Tether’s fiat-backed token, along with Bitcoin, Litecoin and Dash, can now be bought and sold on the exchange site.
ShapeShift Founder and CEO Erik Voorhees commented:
Tether provides a stable token to trade against, offering our users interested in the stability of a fiat-backed asset more variety in their exchanges on ShapeShift. ShapeShift is excited to begin the Tether integration with tether USD₮ and look forward to adding all the new currency tether tokens in the future.
Tether is a fiat currency token platform that is on the Blockchain. With integration for Bitcoin businesses, Tether provides use of fiat currency on the Blockchain in the form of tethers which are backed by actual assets in Tether’s reserve account that always maintain a one-to-one ratio with each currency held.
Tether supports US Dollars, with several more national currencies apparently in the works. Tethers can be stored, sent and received exactly like bitcoins and are redeemable for their underlying currency value using globally-accepted compliance standards.
Craig Sellars, Tether Co-Founder and CTO, noted:
ShapeShift is one of the easiest to use digital asset exchanges in the entire Blockchain ecosystem, built by true pioneers in this space. Now with Tether’s digital cash, ShapeShift users have the benefits of both fiat and digital currencies, instantly.