05 September, 2018
ShapeShift exchange has offered a new membership system.
The company said in its statement that the new membership will become mandatory in the future. The system represents a loyalty programme, which will enable users to enjoy a set of fruits, but not for free – they will have to provide their personal data. In the other words, the platform gives up the no-account business model.
"We’re immensely excited about this launch as a new set of features and benefits for our customers, and a demonstration of how loyalty programs like this can work in the interests of all stakeholders. Membership will be a significant upgrade in the user experience for many people. While the account-based format is new, we remain committed to consumer protection via our non-custodial model – we do not and will not hold customer deposits," the company CEO commented.
According to the released information, the membership will bring some benefits, including more attractive exchange rates, rewards for FOX transactions and increased transaction limits.
ShapeShift revised its business model seeing strong demand for tokenization as well as the unclear position of the regulators towards cryptos.
Along no-account exchange, non-custodian trading will remain available on the platform.