Decentralized exchange aggregator 1inch has been integrated into the
crypto wallet app BitPay, enabling users to access its rates for their
crypto swaps.
1inch Network, a major decentralized exchange (DEX) aggregator and automated market maker, is broadening its reach by partnering with veteran crypto wallet provider BitPay.
The
two companies announced that 1inch’s DEX aggregation functionality is
available for all users of the BitPay wallet — an app that allows
individuals to manage, convert and spend 12 different cryptocurrencies
through integrations with ATMs, Apple Pay, Google Pay and Mastercard.
The
1inch Network partnership enables BitPay wallet users to use the DEX
aggregator directly. 1inch Network announced wider integrations with
different decentralized finance (DeFi) protocols and DEXs this year to strengthen its liquidity pools for its users.
The
network uses an algorithm called Pathfinder to search over 60 different
liquidity sources on Ethereum, over 30 on Binance Smart Chain and over
20 on Polygon and Optimistic Ethereum. Over the past two years, the DEX
aggregator has exceeded $65 billion in total volume on the Ethereum
network, according to Tuesday’s announcement. In the winter of 2020, it
secured funding from the likes of Pantera Capital and multiple crypto venture funds.
Related: 1inch launches mobile wallet on Apple iOS
1inch
Network co-founder Sergej Kunz stated that the partnership with the
BitPay wallet app provides an opportunity for the DEX aggregator to
reach out to new audiences who would "benefit from the 1inch's
attractive rates and user-friendly swap process.” With the integration,
BitPay users will be in a position to swap their Bitcoin (BTC), Ether (ETH) or other holdings for various crypto assets at 1inch Network’s competitive rates without leaving the app.
On Aug. 17, 1inch Network announced its deployment on the Optimistic Ethereum (OE) mainnet, following in the steps of fellow automated market maker Uniswap’s long-anticipated alpha launch of its v3 exchange on the OE mainnet.
The use of the OE network is expected to significantly reduce user
transaction fees and confirmation delays for both platforms.
source link: https://cointelegraph.com/news/bitpay-wallet-integrates-1inch-network-dex-aggregator
