1inch Network, a major decentralized exchange (DEX) aggregator and automated market maker, is expanding its reach by partnering with veteran cryptocurrency provider BitPay.
The two companies announced today that the 1inch DEX aggregation functionality will be available from now on to all BitPay wallet users., an application that allows people to manage, convert and spend 12 different cryptocurrencies through integrations with Mastercard, Apple Pay, Google Pay and ATMs.
1inch Network partnership allows BitPay wallet users to use DEX aggregator directly. 1inch Network announced broader integrations with different DeFi and DEX protocols this year to strengthen its liquidity pools for its users.
The network uses an algorithm called Pathfinder to search for more than 60 different liquidity sources in Ethereum, more than 30 in Binance Smart Chain, and more than 20 in Polygon and Optimistic Ethereum. In the last two years, DEX aggregator has surpassed $ 65 billion in total volume on the Ethereum network, according to today’s announcement. In the winter of last year, he raised funds from companies like Pantera Capital and multiple crypto venture funds.
The co-founder of 1inch Network, Sergej kunz, stated that the partnership with the BitPay Wallet app provides an opportunity for the DEX aggregator to reach new audiences who “would benefit from the attractive 1inch fees and easy-to-use exchange process”. With the integration, BitPay users will be in a position to exchange their BTC, ETH or other holdings for various crypto assets at 1inch Network’s competitive rates. They will not need to exit the application to do so.
Two weeks ago, 1inch Network announced its implementation on the Optimistic Ethereum (OE) mainnet, following in the footsteps of the long-awaited alpha release of Uniswap’s v3 exchange platform on the OE mainnet. The use of the OE Network is expected to significantly reduce user transaction fees and confirmation delays for both platforms.