Kirobo, an Israel-based blockchain startup, today announced that the company has launched Atomic Safe Swap, a new service that eliminates the risk of error and fraud from token swaps.
According to an official announcement shared with Finance Magnates, Kirobo’s Atomic Safe Swap is the world’s first secure peer-to-peer token swap service. The newly introduced service enables crypto holders to execute token swaps directly with other users without the need for an exchange or custodial third party.
Kirobo launched Atomic Safe Swap after a successful introduction of the company’s Undo Button service which ensures secure and retrievable cryptocurrency transfers. Earlier this year, Kirobo raised $5 million from DigiMax to expand its products.
Commenting on the latest launch of Atomic Safe Swap, Asaf Naim, CEO of Kirobo, said: “Our mission is to make cryptocurrency safe and easy to use for all users regardless of experience, and Atomic Safe Swap represents major progress in this direction. This service is user-friendly, completely secure, and allows users to set their own token prices. We expect the service to provide a real boost to the cryptocurrency ecosystem for years to come.”
Since the start of 2021, Kirobo has expanded its services substantially to facilitate global cryptocurrency users. According to the company, its Undo Button has already processed over $1.5 billion worth of crypto transactions. Additionally, Kirobo’s Undo Button also facilitated hundreds of users to retrieve millions of dollars worth of cryptocurrencies.
“Swaps are vital for the cryptocurrency ecosystem, enabling users to invest in promising new tokens and DeFi projects. In Atomic Safe Swap, we’ve created a safe gateway that anyone can use to diversify their portfolios,” Tal Asa, co-founder and CTO of Kirobo, commented.
Atomic Safe Swap
Kirobo highlighted that the newly launched service allows peer-to-peer token swaps without the need to use exchange or OTC party. “Atomic Safe Swap is a further development of the aforementioned Undo Button. In order to execute a token swap, the first party creates a passcode and communicates it to the second party. The swap is actioned simultaneously by the smart contract only after the Kirobo server receives the correct passcode from the intended recipient’s device, and the first party can cancel the transaction and retrieve their funds until this point,” Kirobo mentioned.
Earlier this year, Michael Pearl joined Kirobo as COO.
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