- The new platform will allow users to store, buy, sell, trade and track cryptocurrencies.
- The platform currently supports over 50 digital assets and requires a connected hardware wallet.
The Erik Voorhees-helmed digital asset exchange ShapeShift has launched its new non-custodial crypto management platform. While the old version of ShapeShift was a tool to convert one asset to another, the new platform will come with extra functions which will allow users to store, buy, sell, trade and track cryptocurrencies. As Voorhees puts it, ShapeShift will have “basically all the things you can do with something like Coinbase, but without custody.”
In an interview with CoinDesk, Voorhees shed more light on the new platform:
“Largely this came from my dissatisfaction with the reality that most of the large companies are custodial. It offers many services that a company like Coinbase would provide but on ShapeShift it’s done in a much more secure and self-sovereign way.”
The platform currently supports over 50 digital assets and requires a connected hardware wallet like Trezor or KeepKey. ShapeShift puts a high priority on eliminating counterparty risk. Voorhees added:
“There needed to be a platform that had great UX that my grandparents could use with limited instruction but that was built on a foundation of being non-custodial.”