BitPay wallet integrates 1-inch Network DEX aggregator

1 inch network, a major decentralized exchange aggregator (DEX) and Automated Market Maker, expands its reach by partnering with veteran...



1 inch network, a major decentralized exchange aggregator (DEX) and Automated Market Maker, expands its reach by partnering with veteran crypto wallet provider BitPay.

The two companies announced today that 1inch’s DEX aggregation feature will now be available to all BitPay wallet users – an app that allows individuals to manage, convert and spend 12 different cryptocurrencies through integrations with MasterCard, Apple Pay, Google Pay and ATMs.

The 1-inch network partnership allows BitPay wallet users to directly use the DEX aggregator. 1inch Network this year announced broader integrations with different DeFi and DEX protocols to strengthen its liquidity pools for its users.

The network uses an algorithm called Pathfinder to find over 60 different sources of liquidity on Ethereum, over 30 on Binance Smart Chain, and over 20 on Polygon and Optimistic Ethereum. Over the past two years, the DEX aggregator has exceeded $ 65 billion in total volume on the Ethereum network, according to today’s announcement. In the winter of last year he got funder the blows of Pantera Capital and several crypto venture capital funds.

Related: 1inch launches mobile wallet on Apple iOS

1inch Network co-founder Sergej Kunz said the partnership with the BitPay Wallet app gives the DEX aggregator the opportunity to reach new audiences who “would benefit from the attractive pricing and user-friendly redemption process. of 1inch “. With the integration, BitPay users will be able to exchange their BTC, ETH, or other holdings for various crypto assets at competitive 1inch network rates. They won’t need to exit the app to do so.

Two weeks ago, 1inch Network announced its deployment on the Optimistic Ethereum (OE) main network, following in the footsteps of its automated market maker colleague Uniswap alpha launch of its v3 exchange on the main OE network. Using the OE network is expected to significantly reduce user transaction costs and confirmation times for both platforms.