August 16, 2017
All cash deal enables the pioneering exchange to offer combined solution for securely holding and trading digital assets
With a focus on ease and security, the vertical integration of KeepKey and ShapeShift enables users to safely store assets on a KeepKey device, while trading these assets directly over the ShapeShift API from the device’s interface.
Erik Voorhees, CEO of ShapeShift, said: “Security is of critical importance when it comes to holding and trading digital assets. 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.”
“Users can hold their coins on the hardware device and exchange them on demand within the wallet, without even visiting a website. When you pair the KeepKey hardware wallet with ShapeShift’s exchange, the experience is magical,” continued Voorhees.
KeepKey integrated ShapeShift’s API over a year ago, and supports Bitcoin together with a wide variety of popular digital assets including Ether, Litecoin, Dash and more. The firm will continue manufacturing and distribution of the device, providing the most secure storage wallet available with native support for trading all leading digital assets.
“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,“ commented Ken Hodler, Chief Technology Officer at KeepKey.
ShapeShift has confirmed that the KeepKey brand and product line will remain the same, following high demand by users, and the acquisition will also 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.
In simple terms, cold storage refers to keeping digital assets completely offline, disconnected from the Internet. Since Bitcoin, Litecoin, Ether, etc. are digital assets, when they are stored in online devices (such as a laptop or phone) there is increased risk of theft. Therefore by using KeepKey in conjunction with ShapeShift’s non-custodial exchange, a user’s attack surface is greatly diminished.
“With ShapeShift, users don’t need to leave funds at 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,” concluded Voorhees.
The KeepKey device is available directly from KeepKey.com, Amazon.com and other retailers listed on the KeepKey site.
On 1,500% year-over-year customer order growth, Swiss-based ShapeShift recently raised a $10.4m Series A investment round led by Berlin-based Earlybird Venture Capital, and released its second product, Prism, a digital asset portfolio platform in May.
KeepKey was founded in 2014 to provide thousands of users with the most secure, convenient, and easy-to-use hardware wallet available for storing bitcoins and other digital assets.
See more at: https://www.keepkey.com/
About ShapeShift AG
ShapeShift is the fastest and safest digital asset exchange in the world. From start to finish, users can exchange blockchain tokens in seconds, with no account required. The firm pioneered the concept of “Consumer Protection by Design,” enabling web and API-based trading without counterparty risk. See more at: https://shapeshift.io
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