ShapeShift's Non-Custodial Platform
By Block Society
The cryptocurrency industry is maturing, and ShapeShift’s innovative rollout of a non-custodial platform is the latest sign. ShapeShift is known as a one-stop avenue where traders buy and sell at the best prices across multiple exchanges, and it has expanded its service in a unique way with its non-custodial platform.
Crypto companies like Coinbase with custodial solutions is ironic to a degree since blockchain enables the first ever non-custodial framework. This non-custodial service with ShapeShift is a strategic long-term play for when mainstream users realize the value of non-custodial services.
Some questions remain, such as how such a self-custodial service would differentiate itself from a decentralized exchange (DEX). Such a service may actually become the ideal middle ground between a custodial service and a DEX. Also, this service requires the use of a hardware wallet such as Trezor, Nano S Ledger, or KeepKey. It remains to be seen if the requirement to have a hardware wallet stifles the demand for ShapeShift’s new offering. In any case, such a service may set a precedent for the cryptocurrency custodial sector.