Shapeshift, the fast crypto exchange service has reportedly bought Bitfract to boost its business performance.
Texas-based development company Bitfract created an instrument that can exchange bitcoin 10 coins per transaction via their API. This solution attracted Shapeshift which focuses on fast crypto exchanges. With the new instrument, the players can easily create a crypto portfolio, without a need for numerous deals.
"This demonstrated a great alignment of strategy and thinking, and their execution was so exceptional that we wanted to bring their talented team and technology on board," according to the company CEO.
With the Bitfract solution, investors can reportedly set the required amount of funds to be allocated in any particular coin (in percentage), and then make a transfer to the corresponding address just over one bitcoin-transaction.
Such service is said to be welcomed by the players which strive to save time and optimize transaction costs while creating a crypto portfolio. In addition, it lowers the need for using centralized platforms in part.
Earlier, ShapeShift acquired hardware wallet KeepKey.