Just when you thought our open-sourced ShapeShift V2 platform was sounding like a “one-stop-shop” nirvana for your crypto needs, we ascended it even higher with the integration of the Gem on- and off-ramp embedded user interface to easily execute crypto/fiat conversions directly from app.shapeshift.com. We announced Gem’s availability on our beta.shapeshift.com web platform in September last year. Now, this integration with Gem will give users the added ability to off-ramp BTC, ETH, USDC, and an additional 18 tokens (convert them to fiat) and to on-ramp with additional payment methods and global locality options directly from our new, decentralized, and open source ShapeShift platform. For more information on payment methods and fiat/virtual currencies supported by Gem, visit their information page.
We already offered on-ramp services (or, the ability to purchase crypto with fiat money, such as the U.S. dollar and many other global currencies) via Banxa on our beta web platform; this addition enables you to do so on our new decentralized, open source platform.
Connect, trade, invest, track, manage, and now on/off-ramp—from a single interface, across chains, privately and securely. Sounds like nirvana to us!
Gem is an on/off-ramp aggregator: the company brings together a host of other similar services so that the user can select the most competitive offering. As is required with all fiat transactions, you will need to provide Gem with identification (“Know Your Customer” requirements, or, “KYC”), but you will only need to provide it once to use all of the included on/off-ramp gateway services. The ShapeShift platform does not require KYC or store user data for any of our own platform offerings.
Gem and ShapeShift V2: A Perfect Complement
The ShapeShift DAO announced the launch of the V2 platform on January 20 as the first of many significant steps we have taken in the DeFi and yield farming spaces. The new V2 platform has features built in to allow every user to put their digital assets to work and earn yield without giving up control or having to ask for permission—no accounts or KYC. V2 is a huge step toward enabling you to experience true financial sovereignty and self-custody.
Our mission has always been to empower our users and remove friction. By adding expanded on- and off-ramp capabilities, we are working to provide a single digital utopia where you can easily execute and track all of your crypto and crypto investment transactions.
Benefitting the DAO for a Stronger Community
The integration of Gem into our V2 comes with the added benefit of affiliate revenues: some portion of Gem usage revenues are returned to the ShapeShift DAO, without affecting user costs or fees. This benefits us all by enabling us to continue to fund more features, development, and programs to improve our services for our users.