For immediate release:
Ethereum-based cryptocurrency holders will now be able to instantly exchange their ETH into popular ERC20 tokens using a new token swap function launched by MEW, Ethereum’s original wallet provider, and Kyber Network, the first decentralized, fully on-chain exchange platform.
ETH holders can now seamlessly capitalise on the cryptocurrency market by converting their funds into twenty ERC20 tokens such as KNC, EOS, OMG (OmiseGo) and stable coin DAI. The swap function empowers MEW’s tens of millions average monthly visitors with choice and flexibility, without the need for a minimum deposit or registration.
With the Ethereum network reaching an all-time high market capitalization of USD 68.9bn in the last quarter of 2017, MEW and Kyber Network aim to advance digital asset conversion by making the process as secure, efficient and transparent as possible.
“This exciting collaboration is founded on a shared goal of protecting the privacy of our users, while making the cryptocurrency trading experience fluid and enjoyable,” said Kosala Hemachandra, founder of MEW.
“People around the globe know and trust the MEW brand, whether they are using the platform to set up wallets, or to send and receive money from other users. This major partnership with MEW affirms our commitment to every individual who holds cryptocurrency and cryptotokens to keep delivering the seamless and secure token swap experience they have come to expect from Kyber Network,” said Loi Luu, founder and CEO of Kyber Network.
Centralized exchanges are responsible for billions of trades per day, collecting personal user data and storing most of their users’ funds on their servers. This leaves traders vulnerable to hacks and burdens them with slow processing times. This feature offered by Kyber Network will be integrated with MEW’s wallet infrastructure, meaning swapped tokens will be available in MEW wallets instantly.
Both MEW and Kyber Network do not request or store any user data; users have complete control over their assets, with all transactions and exchanges processed on an open sourced decentralized blockchain platform.
“We refuse to collect user data as we want to honor the principles of blockchain technology, of which privacy is paramount” said Hemachandra.
The token swap function will soon allow ERC20 to ERC20 conversion by mid-year, with cross-chain token conversion to be made available by the end of this year.
MEW is the world’s original Ethereum wallet: free, open-source and secure. MEW empowers its users to interact directly with the blockchain while remaining in full control of their keys & funds.
ABOUT KYBER NETWORK
Kyber Network functions as a decentralized Ethereum-based solution that is committed to advancing the interchangeability and fluidity of digital asset conversion. Kyber’s trustless system offers a convenient and secure platform that empowers users with flexibility and choice when it comes to token exchange and payment.