Waves Opens Ether Gateway

Announcements, Blockchain, FinTech, Investing | July 21, 2017 By:

Decentralized blockchain platform Waves has announced the opening of an ether gateway within the lite client. The ether gateway follows the launch of bitcoin, USD, and EUR gateways.

The ether gateway will enable users to store ETH and trade it against other tokens on the DEX, Waves’ decentralized peer-to-peer exchange. The new gateway will work in a similar way to the existing bitcoin gateway: users will send ETH to the given address within the client and will receive a Waves token in return. These tokens will be backed 1:1 with ether, and can be withdrawn and exchanged for ETH at any time.

While stored on the Waves blockchain, the Waves ETH tokens may also be traded for other existing Waves tokens, such as WBTC, or WAVES itself.

“We’re really pleased to add another gateway to the Waves client,” said Waves CEO Sasha Ivanov. “Ethereum is the foremost blockchain platform after bitcoin itself, and it’s important to be able to offer users the opportunity to trade ETH on a decentralized exchange. In due course, we’ll be adding more coin gateways, broadening our appeal, and allowing not only trading, but Waves crowdsales that collect a whole range of cryptocurrencies directly.”