🦊 ShapeShift acquires tool that quickly swaps Bitcoin for other cryptos

ShapeShift, a crypto exchange, has acquired Texas-based Bitfract a startup that developed a tool for exchanging cryptos more efficiently. The tool allows for the exchange of Bitcoin ($BTC) for "dozens of digital assets in a single transaction" using the company's API. The idea is that the tool makes it easier for crypto-buyers to switch up their portfolio without having to execute numerous transactions. ShapeShift intends to continue operating Bitfract's tool in its present form "as a demonstration of the power of ShapeShift's open API" while also integrating the platform's mechanism into its own platform, creating a native "multiple output transactions" function.