ShapeShift AG, an instant exchange for Bitcoin digital currency and other blockchain assets, has reportedly appointed Lisa Loud as its new COO as it reportedly prepares its expansion.
As previously reported, ShapeShift helps customers convert between them, for example exchanging a token on the Bitcoin blockchain for a token on the Ethereum blockchain. The digital asset exchange has grown an average of 48 percent per month since launching just under three years ago. ShapeShift also operates under a strict “no fiat” policy, meaning only legitimate blockchain-based assets (no government money) are permitted on the platform.
“ShapeShift is an internationally renowned cryptocurrency trading platform. It is guided by four business principles, all of which focus on serving users: security & self-custody, free trading & high liquidity, 24/7 customer service, and an effortless user experience. The ShapeShift Platform allows users to buy crypto with fiat, trade, track, and secure their crypto through a simple web interface.”
The company currently offers its own token, FOX, which is an ERC-20 token that unlocks free crypto trading on the ShapeShift Platform. The token’s description reads:
“FOX Tokens are distributed to each ShapeShift user when their account is verified. Each FOX Token gives you $10 in free trade volume, every 30 days. Simply hold FOX in your platform wallet to enjoy the benefits. The tokens are perpetual — they don’t expire and you don’t have to spend them.”
According to The Denver Business Journal, Loud is also a former senior engineer of Oracle as well as an executive of cryptocurrency exchange BitMex. Speaking about her new role, Loud shared with the media outlet:
“I’ve always been drawn to cutting-edge technologies that have the ability to make the world a better place. … When I evaluated the role, it was clear that ShapeShift had some of the best technology and leadership in the industry today, so I’m very excited to join and help steer the company to the next level.”
CEO and Co-Founder of ShapeShift, Erik Voorhees, added in a statement:
“Lisa’s expertise in data-driven customer acquisition, engineering and product iteration make her a vital addition to our team. As we move into the next phase of our growth, we’ll look to Lisa’s experience with businesses like Apple, PayPal and BitMex to build the world’s greatest crypto company.”
The appointment of Loud comes just a couple of months after ShapeShift claimed to be the only noncustodial crypto trading platform to offer benefits like fee trading and multiple self-customer wallet solutions. The company noted its hope is that its vision for a better experience “will shape the future of fees and key management.”
“We’re redefining the way crypto trading is done with transparent comparable rates, an improved trading engine with top-tier liquidity, accurate real-time time market data, and free trading with FOX tokens. ShapeShift adds no hidden commissions, spread or trading fees. While trading is commission free, standard network miner fees still apply to each trade.”
ShapeShift then added:
“Blockchain technology is an incredible space full of impactful innovation and collaboration. It’s empowering communities to take back control of their financial journies and disrupting the status quo. At ShapeShift, we’re excited to participate in the crypto revolution by making trading free to all. We add zero commissions, trading fees or spread to our rates thanks to our loyalty token, FOX.”