<p>Crypto exchange ShapeShift has acquired non-custodial crypto wallet provider Portis for an undisclosed sum.</p> <p>Israeli media outlet Globes <a href="https://en.globes.co.il/en/article-shapeshift-buys-israeli-digital-wallet-co-portis-1001325386#utm_source=RSS">reported</a> the news on Tuesday, saying that Portis will open a new office in Tel Aviv, which will be operated by ShapeShift.</p> <p>Upon the deal completion, Portis’s four employees will shift to the new office, per the report. Financial details of the deal remain unknown.</p> <p>The Portis wallet has been <a href="https://shapeshift.zendesk.com/hc/en-us/articles/360010466899-Getting-Started-With-Portis">integrated</a> into ShapeShift’s platform since November 2019. ShapeShift CEO Erik Voorhees told Globes that acquiring Portis was a "natural next step."</p> <p>“After integrating Portis’ SDK [software development kit] into the ShapeShift Platform last year, we recognized the depth of their tech and how closely our values aligned. They really built something special, making self-custody extremely easy. As our relationship evolved, acquiring Portis became a natural next step,” said Voorhees.</p> <p>Founded in May 2018, Portis was reportedly on the verge of shutting down earlier this year after eight employees were laid off and co-founder Itay Radotzki <a href="https://www.linkedin.com/in/radotzki/">quit</a> in January.</p>