Waves, a decentralized blockchain platform focusing on custom blockchain tokens operations, has announced the launch of an ether gateway within the lite client.

The implementation of the ether gateway follows the launch of bitcoin, USD and EUR gateways. The gateway will enable users to store ETH and trade it against other tokens on the DEX.

“We’re really pleased to add another gateway to the Waves client,” comments Sasha Ivanov, Waves CEO. “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 decentralised 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.”

The Ethereum gateway, now live in the lite client, will work similar to the existing bitcoin gateway. When the users send ETH to the given address within the client, they will receive a Waves token in return -backed 1:1 with Ether, and can be withdrawn and exchanged for ETH at any time.

In addition, the Waves ETH tokens can be securely stored as well as transferred quickly at low cost while they remain within the Waves blockchain ecosystem. They can be traded against other Waves tokens, including WBTC and WAVES.

“This means that users will be able to trade ETH peer-to-peer on DEX, against BTC, WAVES, USD and EUR, as well as any other token. Thanks to Waves’ centralised order matching, the DEX approaches the speed of a traditional exchange, but with the security of blockchain settlement”, Waves explained.