SwapKit.dev, a pioneer in cross-chain infrastructure solutions, announced on August 22, 2024, the integration of BitPay, a leading Bitcoin and cryptocurrency payment processor.
This collaboration allows BitPay users to conduct cross-chain cryptocurrency swaps directly within the BitPay Wallet, utilizing SwapKit’s technology to access liquidity from multiple blockchains via THORChain.
The integration enables BitPay Wallet users to exchange various cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Dogecoin and Litecoin, as well as over 4,800 ERC-20 tokens.
By incorporating SwapKit’s infrastructure, BitPay aims to provide a more flexible and user-friendly experience for cryptocurrency transactions.
Noting that this integration aims to improve the crypto payment experience for all BitPay users, Keaton Freeman, partnership director at SwapKit, said,
“We’re confident this will streamline the checkout process and enhance the user experience for both merchants and customers.”
The partnership intends to address several challenges associated with cryptocurrency transactions.
The integration is expected to reduce friction and complexity in the exchange process by enabling cross-chain swaps within a single transaction.
This streamlined approach is designed to minimize slippage and improve the overall user experience for those conducting transactions in the BitPay Wallet.
Emphasizing the potential benefits of this development for users, Bill Zielke, chief marketing officer at BitPay, said,
“By leveraging SwapKit’s cross-chain capabilities, BitPay Wallet users gain access to competitive swaps across multiple networks and thousands of coins.
“This partnership unlocks more asset flexibility and choice while ensuring 100% self-custody. We’re thrilled to provide this expanded capability.”
The integration also offers opportunities for developers who use SwapKit’s SDK (software development kit) and API (application programming interface).
These tools enable developers to incorporate cross-chain swap functionality into their applications, supporting transactions across 14 different blockchains and over 5,500 crypto assets.
This aligns with SwapKit’s broader strategy of facilitating seamless cross-chain transactions in various applications.
BitPay users can now conduct cross-chain swaps from within the BitPay Wallet or by using other self-custody wallets available on BitPay.com.
The integration is expected to provide users with competitive rates for these swaps thanks to SwapKit’s optimized routing of liquidity across multiple networks.
For more information about the integration and how it may impact crypto payments, visit SwapKit’s website.
SwapKit.dev offers a comprehensive API and SDK designed to simplify the integration of THORChain, enabling DApps (decentralized applications) to incorporate multi-chain functionality with minimal code.
SwapKit supports over 5,500 crypto assets across 14 blockchains, offering developers a solution for implementing cross-chain swaps.
The platform is utilized by protocols such as THORSwap, KeepKey and OneKey, and is focused on providing efficient, scalable infrastructure for cross-chain transactions.
Founded in 2011, BitPay is a company specializing in blockchain payment processing. It provides businesses with tools to send, receive and store money using cryptocurrencies, with features that aim to reduce fraud, lower payment processing costs and enable borderless transactions.
For consumers, BitPay offers a wallet that allows for the management of digital assets, including buying, storing, swapping, selling and spending cryptocurrencies.
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