NEO-based decentralized cryptocurrency exchange Switcheo has signed a deal with mobile wallet O3, which will enable wallet users to trade directly from their O3 app, Switcheo said on Monday.
Wallet customers should use the new decentralized application (dApp) browser and sign a signature request before making a Switcheo trade order. Switcheo is the first exchange to use the O3 dApp browser, which aims to make crypto trading easier and faster.“By building a dApp platform/browser we will enable O3 users to interact with existing and upcoming decentralized applications (dApps) on the NEO blockchain directly from the app. This will also make it easier for developers who want to build decentralized applications to integrate and get people to use their dApp, hopefully increasing adoption and use of the Smart Economy as a whole,” Apisit Toompakdee, co-founder of O3 Labs told the official NEO blog. Switcheo and O3 are both developed on the Neo blockchain.
Switcheo currently supports 19 NEP-5 tokens in trading pairs with NEO (NEO), Gas (GAS) and its own token Switcheo (SWTH). NEP-5 is a token standard for NEO blockchain similar to the Ethereum ERC20 protocol.
Switcheo plans to add QRC20 tokens based on the Qtum network as well as coins that use ERC20. The trading platform is also developing a second exchange, dubbed v2, which will have new trading APIs and a new mobile user interface.
Switcheo launched in the spring of this year. It is a decentralized exchange (DEX) trading in a wider array of cryptocurrencies than the most-popular centralized crypto trading platforms.