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1inch, a decentralised exchange aggregator, has been incorporated into the cryptocurrency wallet app BitPay, allowing users to access its rates for crypto swaps.
1inch Network, a prominent decentralised exchange (DEX) aggregator and automated market maker, is expanding its reach through a partnership with veteran crypto wallet provider BitPay.
The two firms announced that 1inch’s DEX aggregation functionality is now available to all BitPay wallet customers – an app that lets individuals to manage, convert, and spend 12 different cryptocurrencies via ATMs, Apple Pay, Google Pay, and Mastercard connections.
The 1inch Network cooperation allows BitPay wallet users to use the DEX aggregator directly. This year, 1inch Network announced expanded connections with various decentralised finance (DeFi) protocols and DEXs in order to boost its liquidity pools for its customers.
The Pathfinder method is used by the network to look for over 60 different liquidity sources on Ethereum, over 30 on Binance Smart Chain, and over 20 on Polygon and Optimistic Ethereum. According to Tuesday’s announcement, the DEX aggregator has exceeded $65 billion in total volume on the Ethereum network during the past two years. It received money from Pantera Capital and other crypto venture firms in the winter of 2020.
According to 1inch Network co-founder Sergej Kunz, the cooperation with the BitPay wallet software allows the DEX aggregator to reach out to new audiences who would “benefit from the 1inch’s excellent prices and user-friendly exchange procedure.” BitPay customers will be able to exchange their Bitcoin (BTC), Ether (ETH), or other holdings for multiple crypto assets at 1inch Network’s competitive prices without leaving the app thanks to the integration.
1inch Network announced its deployment on the Optimistic Ethereum (OE) mainnet on August 17, following in the footsteps of another automated market maker Uniswap’s long-awaited alpha launch of its v3 exchange on the OE mainnet. The use of the OE network is expected to significantly reduce user transaction fees and confirmation delays for both platforms.