Crypto asset exchange service ShapeShift announced today a partnership with leading online marketplace Overstock.com. Overstock has offered customers the ability to purchase a wide range of products including home goods, clothing, electronics and more with bitcoin, litecoin, and dodgecoin for years and now will allow for their customers to purchase items with dozens of digital assets through this integration with the ShapeShift API.
Now during checkout, customers can select their preferred cryptocurrency before being prompted to transfer the coins just as they would with any other digital wallet transaction. Overstock will then utilize ShapeShift to convert the cryptocurrencies to bitcoin. Refunds from a cryptocurrency purchase will also be made in bitcoin, likewise, customers can efficiently perform an exchange to their preferred cryptocurrency through ShapeShift.
Overstock is the first major retailer to accept multiple cryptocurrencies as payment. This announcement is the latest in a line of major firsts for Overstock in the blockchain world; the e-commerce pioneer became the first major retailer to accept bitcoin in early 2014 and issued the world’s first blockchain stock with its Series A Preferred offering in late 2016 on the t0 platform.
“ShapeShift has provided an elegant way for users of any digital currency to transact seamlessly and privately across chains, and we’re excited to harness that ability to the benefit of our customers.