ShapeShift announced today that it had completed its fundraising of $1.6 1 G m USD. ShapeShift is an central that allows users to transfer Bitcoin for dozens of other cryptocurrencies without whatever accounts or personal data existence shared.
Barry Silbert’s Digital Currency Group in addition to Roger Ver were the atomic number 82 investors inward this round. Bitfinex, Bitcoin Capital led yesteryear Max Keiser in addition to Simon Dixon, Mardal Investments, Bruce Fenton, Trevor Koverko, in addition to Michael Terpin every bit good invested inward the funding round.
“ShapeShift demonstrated an alone novel vogue to recall virtually property exchange,” said Zane Tackett, Director of Community in addition to Product Development at Bitfinex, inward a statement. “We’ve known Erik for a piece at 1 time in addition to he’s knocked it out of the common amongst this one.”
According to the company, the central has experienced 100x increase since its launch inward August 2014. In July, it had over $2 1 G m inward USD-equivalent volume, which was a tape for the company.
What makes ShapeShift unique is that exchanges are instantaneous in addition to postulate no personal information. Further, ShapeShift doesn’t truly concur whatever of the currencies; it exactly facilitates the merchandise from 1 money to the other. At present, in that place are over forty dissimilar digital currencies. This agency that ShapeShift offers over 940 dissimilar trading pairs. That is greater than whatever unmarried central on the market.
However, 1 type of currency cannot survive traded. ShapeShift has a strict “no fiat” policy, which agency that if a user wanted to purchase bitcoin amongst U.S. dollars, they’d survive unable to. Instead, the user would accept to begin purchase it from roughly other society in addition to hence they could merchandise on the ShapeShift exchange.