ShapeShift snaps up KeepKey

Swiss cryptocurrency exchange ShapeShift has acquired KeepKey, a Seattle-based hardware wallet for digital assets, for an undisclosed sum.

Keepkey makes digital vaults for the safekeeping of crypto currencies. Its vaults safeguards digital assets by keeping them completely offline, disconnected from the Internet.

Even after the completion of the acquisition, ShapeShift will retain the KeepKey brand, and its employees will continue working on the hardware product line.

KeepKey already integrated ShapeShift’s API a year ago, and supports Bitcoin together with a wide variety of digital assets including Ether, Litecoin, Dash and more.

KeepKey chief technology officer Ken Hodler said: “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.”

ShapeShift CEO Erik Voorhees said: “Amid heightened interest in the concept of digital currencies, a simple, user-friendly cold storage wallet with native exchange functionality is one key to wider adoption. With ShapeShift, users don’t need to leave funds at an exchange. With KeepKey, users don’t need to leave funds on any computer whatsoever. We see a future in which keys are kept on hardware, and non-custodial exchange occurs directly from the hardware.”