Shapeshift Acquires Bitfract to Simplify Cryptocurrency Portfolio Diversification


In an attempt to quicken and simplify the process of buying of cryptocurrencies, Shapeshift AG, the Swiss trading platform, announced its acquisition of Austin‐based cryptocurrency converter company, Bitfract on August 7, 2018.

Bitfract is an American firm whose platform allows its users to convert their bitcoin (BTC) into a variety of digital assets in a single transaction. More to the point, they are looking to change the game for Shapeshift as it would not just simplify buy and selling of cryptocurrencies, but would also allow investors to rebalance their portfolio at any given point of time.

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