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Shift Markets Launches on Hedera to Provide Yield and Asset Trading to Enterprise Clientele

Published By
Grace Pfluger
November 14, 2022

Today, Shift Markets, the enterprise technology provider, announced their product Shift Dashboard to bring Hedera-based assets and yield to their wide variety of clients. Shift will now offer trading, payments, and yield-earning opportunities to its 70+ exchanges and other Web3 clientele. 

Opening access to the Hedera network’s assets will allow Shift’s clients and end users to explore a wide variety of use cases of the asset, all native to Hedera. Delivering safe, secure, and easy on-ramps, trading, yield-earning, and enterprise solutions that allow a more extensive variety of users to take advantage of the crypto economy at the tip of their fingers.

Shift Markets offers a variety of products to their clientele, most notably a white-label exchange product built on their liquidity engine, Nexus. This allows institutions to capitalize on their network by operating an exchange, whilst leaving the customer service and technology maintenance to Shift.  

Nexus will first integrate Hedera, making HBAR available to the Shift Enterprise clients as well as retail users. 

“Through Shift Markets, we look forward to introducing Hedera services and new trading pairs to a multitude of enterprise and retail users.” Said Elaine Song, VP of Strategy at the HBAR Foundation. “The Shift team has consistently proven itself as a global network of the highest standard, launching 100 FX brokers and 70+ exchanges on 6 continents. Together we are well positioned to further the adoption of Web3.”

Shift has continued to expand on its financial services, starting in 2009 with foreign exchange and making the natural Shift to crypto solutions. Shift is empowering over 100+ clients and exchanges worldwide, and is continuing to pursue the support of institutions making the leap into crypto. 

The partnership comes naturally, with both the Hedera network and Shift pioneering enterprise adoption in the Web3 space. Most recently abrdn, the UK asset manager with £508 billion AUM, joined the Hedera Governing Council and announced its plan to tokenize their funds. This places them alongside a team of 27 organizations on the council: Avery Dennison, Boeing, Chainlink Labs, DBS Bank, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, The London School of Economics (LSE), Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.

“Integrating Hedera for this project will transform the way that institutions interact with crypto. Large institutions such as Ubisoft and Google are already utilizing the technology, so being able to offer these features to a wider range of enterprise companies in our network will make the adoption of crypto and HBAR that much more rapid.” - Ian McAfee, CEO of Shift Markets.

About The HBAR Foundation

The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation’s six funds - focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders - each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem. The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world’s largest problems, and create and control their own economies, all built on the Hedera public network. Whether you’re building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For additional information, please visit https://hbarfoundation.org/.

About Shift Markets

Shift Markets provides cryptocurrency exchange solutions, brokerage trading technology, liquidity, risk management, compliance, and Web3.0 technologies for clients. Shift Markets is dedicated to promoting financial equality in emerging markets in FX and crypto by providing cutting-edge technology to enterprise-grade clientele. With finance ever-changing, Shift is dedicated to providing a better financial ecosystem for end-users on a global scale. Learn more at https://www.shiftmarkets.com/.