One crypto to many exchange service released by Shapeshift

Shapeshift launches new service Bitfract to allow exchange from one crypto for many in one go
27 February 2018   974

Instant cryptocurrency exchange has launched beta version of the new service. Bitfract is a new step for forming diversified portfolios for experienced investors and newcomers alike. The obvious advantage is the ability to form multi-crypto portfolio avoiding multiple transactions and corresponding fees. The client pays only standard Shapeshift's transaction commission and recieves several coins in one go.

Shapeshift has long become one of the most popular exchanges on the account of its speed, convenience and versatility in working with cryptocurrencies. Integration into wallets has given the users ability to perform swaps between cryptos without first transferring funds to a centralized exchange, removing intermediaries and fees for multiple transactions. Bitfract is a logical step forward with the ability to switch between one base currency to several others in one go. The starting currencies right now include Bitcoin, Litecoin and Etherium.

While limited in functionality and base digital currencies right now, the service is still in beta and open for free for common user's usage. The utilization currently is marginal with only experienced traders who want to diversify their portfolios, but in time, Shapeshift is sure, the popularity will grow with more people refusing to put all the eggs in one basket, so to speak. The inclusion of Bitfract Labs with monitoring for each currency's historical graphs going back for years will surely help that.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   39

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.