Hardware Wallet Provider KeepKey Acquired By ShapeShift

Announcements, Innovation, Investing, Mergers, News | August 17, 2017 By:

Swiss cryptocurrency exchange ShapeShift has acquired digital asset hardware wallet provider KeepKey. Financial terms were not disclosed.

Founded in 2014, KeepKey claims to provide thousands of users with an easy-to-use hardware wallet available for storing bitcoins and other digital assets. KeepKey already integrated ShapeShift’s API a year ago, allowing it to supporting the most popular cryptocurrencies.

ShapeShift users can exchange blockchain tokens in seconds, with no account required. The firm pioneered the concept of “Consumer Protection by Design,” enabling web and API-based trading without counter-party risk.

The vertical integration of KeepKey and ShapeShift will allow users to store assets on a KeepKey hardware wallet, while trading these assets directly over the ShapeShift API from the device’s interface. ShapeShift said that the KeepKey brand and product line will remain the same and the acquisition will also provide increased capital for inventory and security expertise.

“Security is of critical importance when it comes to holding and trading digital assets,” said ShapeShift founder and CEO Erik Voorhees. “One of our priorities has always been to make the exchange experience as safe and easy for users as possible, and our pairing with KeepKey enables us to provide an unmatched customer experience. Users can hold their coins on the hardware device and exchange them on demand within the wallet, without even visiting a website. When you pair the KeepKey hardware wallet with ShapeShift’s exchange, the experience is magical.”

“This partnership will not only guarantee the future success of the KeepKey brand and product line, but joining the ShapeShift team will enable us to focus on continuing to work on developing better technology and security for crypto-holders,“ said KeepKey CTO Ken Hodler.