Leading cryptocurrency exchange ShapeShift will integrate NEM’s XEM, thereby providing greater liquidity options to token holders.
ShapeShift’s extensive API is used by many third parties as the back-end to power services helping to provide liquidity to cryptocurrencies. The NEM team is working to integrate ShapeShift into their Nanowallet, to offer similar convenience already available through Changelly.
Nanowallet, a native NEM desktop wallet, provides users the ability to directly exchange XEM for other cryptocurrencies. With ShapeShift’s NEM integration, cryptocurrency ATMs will be able to support XEM, along with many consumer goods websites.
“At NEM, we are constantly looking for ways to better serve our community and XEM token holders,” said Lon Wong, President of the NEM.io Foundation. “We’ve received many requests to make XEM more available on exchanges, and our integration with ShapeShift is a major step forward in providing flexibility and liquidity to the community.”
Since the NEM.io Foundation, a Singapore-based non-profit set up to promote NEM’s blockchain technology globally, announced a $40 million expansion earlier this year, NEM has been rapidly developing Catapult, its second and completely augmented iteration. The expansion plans also include at 10,000 square-foot Innovation Lab in Kuala Lumpur, Malaysia, which will house the NEM Blockchain Innovation Lab and serve as an accelerator, incubator, and coworking space.
The NEM.io Foundation will also begin operations in Europe starting with a training program for software developers in October.
NEM’s smart asset solution, which does not require programming to create, was recently used by the Bankera and Comsa to help achieve record-breaking pre-ICOs.
