One of the world’s largest cryptocurrency payment service providers, BitPay, recently teamed up with the leading DEX aggregator, 1inch Network (1INCH/USD). The goal of the partnership is to allow BitPay wallet users to access 1inch’s DEX aggregation functionalities and be able to reach the best deals thanks to its numerous liquidity sources.
Thanks to the partnership, users will be able to leverage the lucrative rates for cryptocurrency swaps available on 1inch’s platform. This will further allow them to swap Bitcoin (BTC/USD) and Ethereum (ETH/USD) purchased in one of several different ways, including Apple Pay, Google Pay, BitPay Card, and even with other cryptocurrencies.
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As a result, the clients will have a seamless trading experience, and make it easier for them to use cryptocurrencies in everyday life.
Benefits of the new partnership
1inch Network is a young project, only around two years old. However, since it started offering its services, it managed to reach massive amounts of volume — more than $65 billion on Ethereum alone. Apart from the Ethereum network, it also services Binance Smart Chain, Polygon, and others.
The project’s co-founder Sergej Kunz, stated that it is important to offer 1inch’s aggregation functionalities to as many users as possible. In fact, this has become especially important now, that DeFi is slowly but surely heading towards mass adoption.
The sector is constantly breaking new records in terms of TVL, which currently sits at $90.6 billion, as of September 1st, 2021. As for 1inch’s partnership with BitPay, Kunz added that the payment processor’s Wallet app is a perfect opportunity for 1inch to reach new audiences. They will be able to benefit from the project’s attractive rates and user-friendly swap process, which will ultimately further strengthen the DeFi sector.
According to Stephen Pair, the CEO and co-founder of BitPay, the company’s clients are becoming extremely interested in DeFi, as well as dApps. Now, thanks to the integration with the 1inch Network, BitPay will be able to offer a safe and secure way for users to integrate with all of these different blockchain products.
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