MyEtherWallet (MEW) Integrates 1inch DEX Allowing Direct Swapping of ETH & ERC-20 Tokens
- DEX, 1inch.Exchange MyEtherWallet (MEW) Partner
- Directly swap Ethereum (ETH) and ERC-20 standard tokens on their wallets.
In an announcement sent to our desks on Tuesday, 1inch.Exchange, a decentralized exchange (DEX), confirmed its integration with MEW, a nexus point for transacting ETH and ETH-based products. The partnership aims at providing options for decentralized token swaps across the MEW web-based and mobile apps. Furthermore, users will be offered more diverse options to stake their tokens on MEW in a bid to improve the overall user experience.
MEW is an open-source, free, and easy-to-access Ethereum wallet that provides a secure, self-custodial platform allowing anyone to take advantage of what ERC 20 tokens have to offer. With over 1 million active users, MEW integration of 1inch.exchange will enable these users to carry out any operation from their wallets directly.
Moreover, MEW is compatible with many webs, mobile, and hardware crypto wallets such as Ledger, Trezor, MetaMask, and Coinbase. This allows seamless transfer of Ethereum-based tokens across any platform – with the wallet offering non-custodial protection.
Kosala Hemachandra, MyEtherWallet's founder and CEO, praised the decentralized efforts by 1inch DEX aggregator that allows users to compare prices across several exchanges and select the best prices for you. In his statement on the partnership, Hemachandra said,
“Working with them to make their platform more accessible to MEW users was an easy decision for us.
DeFi is still in an experimental stage, and companies like 1inch are paving the way for greater adoption.”
The integration opens up a gateway for over 1 million participants to use a 1inch DEX aggregator in its quest to be the biggest DEX platform. Sergei Kunz, CEO of 1inch exchange said,
“With the MEW integration, they will have more options for swapping tokens directly in their wallets, as coin offerings will substantially expand.”
The latest integration follows MEW’s integration of Maker protocol earlier this year, as the wallet provider targets to take over the decentralized finance (DeFi) market. MEW has pushed itself to transform itself from being a simple wallet to a full-service wallet, mobile app, and block explorer, and trading platform.