BitPay Power Users Leverage 1inch dApp’s DEX Aggregation Functionality for Optimal Deals from Multiple Liquidity Sources
BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, announced integration with 1inch Network opening access in the BitPay Wallet to the 1inch DEX aggregation functionality. BitPay Wallet holders can swap ETH and ERC-20 tokens benefitting from the best rates and fastest transactions via 1inch. Without leaving the wallet, the user experience is seamless adding to the many ways BitPay Wallet app features to live life on crypto.
“The BitPay Wallet app lets our power users spend, store and manage crypto and support for the 1inch DEX aggregator enables users the ability to get the best crypto swap rates quickly.”
“As DeFi services gradually progress towards mass adoption, it is important to offer access to the 1inch DEX aggregation to as many users as possible,” says Sergej Kunz, 1inch Network co-founder. “And the BitPay Wallet app is a perfect opportunity for us to reach out to new audiences who, in turn, will benefit from the 1inch’s attractive rates and user-friendly swap process.”
The initial protocol of the 1inch Network is a DEX aggregator solution that searches for deals across multiple liquidity sources, offering users better rates than any individual exchange. This protocol incorporates the Pathfinder algorithm which finds the best paths among different markets over 60+ liquidity sources on Ethereum, 30+ liquidity sources on Binance Smart Chain, 20+ liquidity sources on Polygon and Optimistic Ethereum. In just two years the 1inch DEX aggregator surpassed $65 Billion in overall volume on the Ethereum network alone.
“DeFi protocols and dApp’s are becoming popular tools for BitPay’s crypto users and we wanted to offer users a safe, secure way to interact with them,” said BitPay CEO and co-founder Stephen Pair. “The BitPay Wallet app lets our power users spend, store and manage crypto and support for the 1inch DEX aggregator enables users the ability to get the best crypto swap rates quickly.”
The BitPay Wallet app is designed to enable customers to manage, protect, track and spend 12 coins. Customers can instantly turn crypto into dollars, which is then loaded onto the card and can be spent anywhere Mastercard debit is accepted. Cards can also be used online for purchases and to withdraw cash from ATMs.