Table of Contents
Summary
💡 In Q3 2026, SwapKit achieved record swap volume of $1.82B, up 36.5% quarter over quarter, while expanding its product with tokenized equities and ETFs (RWA), Near Confidential Intents support for private swaps, flexible swap funding, improved UTXO transaction building, and stronger partner analytics and reporting.
In Q3 2026, SwapKit delivered its strongest quarter by swap volume, reaching $1.82B–up 36.5% quarter over quarter. Growth was driven by the launch of RWA swaps and the integration with Tangem, which helped lift volume each month to a record $762.5M in September. SwapKit outperformed the broader DEX market for a third consecutive quarter, with Q3 volume growth of approximately 37% versus the market’s 19%.
This quarter, SwapKit added five new chains. The most significant was Robinhood Chain, which launched SwapKit’s RWA support with round-the-clock on-chain trading of tokenized stocks and ETFs, later expanded with tokenized equities and ETFs from Ondo and xStocks.
Additionally, SwapKit added native HyperCore and HyperEVM support, letting users swap directly to and from Hyperliquid and access decentralized perpetuals trading with CEX-like speed and finality, backed by deep on-chain liquidity, all from within their existing wallet or app.
Completing the lineup, the integration of Circle’s Arc and Stellar extends SwapKit into stablecoin settlement and cross-border payments, while the addition of Aleo brings zero-knowledge private transactions.
On the product side, the team also shipped NEAR Confidential Intents support, enabling private cross-chain swaps where amounts, sender, and routing stay off the public record, available to partners behind a single flag. Flexible Swap Input was extended to NEAR and Flashnet, so swaps now settle on the amount that actually arrives rather than the amount quoted, which means exchange withdrawals, hardware wallets, and full-balance sends no longer stall or end in a refund. Finally, an improved UTXO transaction builder now supports funding a transaction from multiple wallet addresses.
Growth Highlights
Q3 2026 was SwapKit’s biggest quarter by swap volume, reaching $1.82B — up 36.5% quarter over quarter. Volume increased in each month of the quarter, culminating in a record September of $762.5M, up 30.5% from August. As swap volume is SwapKit’s primary revenue driver, this marked a significant step up in the platform’s monetized activity. Additionally, Q3 growth extended beyond swap volume, with increases in both transaction count and unique active wallet addresses.
SwapKit outperformed the broader DEX market for three consecutive quarters through Q3 2026. While total DEX volumes declined 26% in Q1 and a further 26% in Q2, SwapKit contracted by only 7% and 9% respectively — and when the market recovered in Q3, SwapKit surged 37% against the market’s 19%, closing September at $762M, its highest monthly volume on record. This consistent outperformance reflects the strength of SwapKit’s integration ecosystem and its ability to capture a growing share of market activity across all market conditions.
Our reports track three main public metrics:
- Total Volume - total monetized volume.
- Unique Addresses - How we measure monthly (unique) active users, validate demand for our service, and growth in mind share.
- Number of Transactions - How we measure how competitive our service is and the retention for end users.
Private metrics available to shareholders upon request.
Swap Volume
| Month | Total Swap Volume (USD) | MoM Growth |
|---|---|---|
| October 2025 | $446,053,907 | +68% |
| November 2025 | $722,510,501 | +62% |
| December 2025 | $416,816,529 | -42% |
| January 2026 | $528,742,231 | +27% |
| February 2026 | $426,642,946 | -19% |
| March 2026 | $512,386,487 | +20% |
| April 2026 | $511,982,539 | -0.001% |
| May 2026 | $394,587,744 | -23% |
| June 2026 | $426,582,507 | +8% |
| July 2026 | $473,371,040 | +11% |
| August 2026 | $584,219,508 | +23% |
| September 2026 | $762,472,218 | +31% |
Unique Wallet Addresses (MAU)
| Month | Unique Addresses (MAU) | MoM Growth |
|---|---|---|
| October 2025 | 136,595 | +14% |
| November 2025 | 122,812 | -10% |
| December 2025 | 104,868 | -15% |
| January 2026 | 141,041 | +34% |
| February 2026 | 144,273 | +2% |
| March 2026 | 189,340 | +31% |
| April 2026 | 221,771 | +17% |
| May 2026 | 229,422 | +3% |
| June 2026 | 212,517 | -7% |
| July 2026 | 275,873 | +30% |
| August 2026 | 373,270 | +35% |
| September 2026 | 294,353 | -21% |
Number of Transactions
| Month | Total Transactions | MoM Growth |
|---|---|---|
| October 2025 | 178,960 | +9% |
| November 2025 | 160,740 | -10% |
| December 2025 | 141,983 | -12% |
| January 2026 | 156,674 | +10% |
| February 2026 | 162,557 | +4% |
| March 2026 | 204,436 | +26% |
| April 2026 | 251,094 | +23% |
| May 2026 | 263,240 | +5% |
| June 2026 | 210,646 | -20% |
| July 2026 | 272,225 | +29% |
| August 2026 | 388,546 | +43% |
| September 2026 | 287,947 | -26% |
Integrators Spotlight
Tangem
Tangem is a Swiss self-custody hardware wallet company, founded in 2017 in Zug, with over 4 million wallets sold across 200+ countries. Its card-sized wallets store private keys on an EAL6+ certified secure element and sign transactions with a tap via NFC, while the Tangem app supports 16,000+ assets across 87+ networks with built-in swaps, staking, and Tangem Pay, a virtual Visa card for spending USDC. Now powered by SwapKit swaps.
In addition to integrating SwapKit, Tangem has also issued a limited edition of SwapKit-branded hardware wallets.
Website: https://tangem.com/
DashPay Wallet
DashPay Wallet is the official non-custodial mobile wallet for Dash, developed by Dash Core Group and available on Android and iOS. It lets users register a username and get paid by name instead of an address, supports CoinJoin, shielded balances for private payments, CrowdNode staking from as little as 0.5 DASH, gift card spending, a merchant map, and built-in Dash DEX swaps.
Website: https://www.dash.org/dashpay/
Garden
Garden is a non-custodial cross-chain swap protocol, launched in December 2023 by former RenBTC core team members, that moves native Bitcoin, stablecoins, and other assets between ecosystems in about 30 seconds. Swaps settle through atomic HTLCs, so Garden never custodies funds or mints wrapped assets, and every swap either completes in full or refunds automatically.
Garden now pairs its own solvers with the SwapKit API, a strong vote of confidence in SwapKit’s reliability and competitive quotes that gives Garden users deeper liquidity and sharper pricing on every swap.
Website: https://garden.finance/
Rhea Finance
Rhea Finance is a chain-abstracted DeFi liquidity hub on NEAR, formed from the merger of NEAR’s leading DEX, Ref Finance, and lending protocol Burrow Finance. It combines swaps, lending, borrowing, margin trading, and liquid staking in a single interface, supports multiple AMM types including CLMM and stable pools with algorithmic routing, and onboards assets from NEAR, Bitcoin, and EVM chains without users managing bridges or multiple wallets.
Website: https://rhea.finance/
New Chains
HyperCore & HyperEVM (August 2026)
Market Daily Volume: $1.2B+
Stablecoin Market cap: $7.7B+
TVL: $5.9B+
We’re excited to announce native HyperCore and HyperEVM support — your users can now swap crypto assets directly to and from HyperCore through our API, and access decentralized perpetuals trading with CEX-like execution speed and deep on-chain liquidity, seamlessly integrated into your existing wallet or application.
HyperCore is Hyperliquid’s native high-performance Layer-1 blockchain purpose-built for decentralized finance, using its custom HyperBFT consensus mechanism to deliver CEX-like speed and finality for on-chain perpetuals trading and order books.
Robinhood (July 2026)
Market Daily Volume: $1.1B+
Stablecoin Market cap: $1B+
TVL: $1B+
Robinhood Chain is a permissionless Ethereum Layer-2 blockchain built by Robinhood on the Arbitrum stack, purpose-built for tokenized real-world assets and 24/7 financial services. It enables users to trade tokenized stocks and ETFs around the clock across 120+ countries, bridging traditional equity markets with on-chain DeFi infrastructure including Uniswap, Morpho, and 1inch — all without traditional market hours or clearing house intermediaries.
Arc (September 2026)
Market Daily Volume: $80M+
Stablecoin Market cap: $630M+
TVL: $550M+
Arc is Circle’s purpose-built Layer-1 blockchain for stablecoin payments, programmable settlement, and institutional foreign exchange — using USDC as its native gas token to keep transaction costs dollar-denominated and predictable. Designed for high-volume financial workloads, it has attracted major institutional partners including BlackRock, Visa, and Goldman Sachs, with support for tokenized asset settlement, multi-currency FX, and deep interoperability across the broader stablecoin ecosystem.
Stellar (September 2026)
Market Daily Volume: $300M+
Stablecoin Market cap: $940M+
TVL: $240M+
Stellar is an open-source Layer-1 blockchain purpose-built for fast, low-cost cross-border payments, asset issuance, and stablecoin settlement — using its unique Federated Byzantine Agreement consensus to confirm transactions within seconds without proof-of-work or proof-of-stake. Operating under a nonprofit foundation, it powers major real-world financial rails including native USDC settlement, PayPal’s stablecoin, and MoneyGram remittances, making it one of the most adopted blockchains for institutional payments and currency interoperability.
Aleo (July 2026)
Market Daily Volume: $5M+
Stablecoin Market cap: $4M+
TVL: $10M+
Aleo is a Layer-1 blockchain purpose-built for private, scalable applications, using zero-knowledge proof cryptography to enable fully programmable on-chain privacy — allowing users to execute and verify transactions without revealing sensitive data.
Product Updates
RWA Launch - Tokenized Equities and ETFs
SwapKit now routes real-world assets – tokenized equities, ETFs and commodities – so partners can put stocks and funds next to crypto in the same swap interface. A user can move Bitcoin into Tesla, the S&P 500 or gold and back out again in a single non-custodial swap, with no brokerage account, no market hours and no fiat on-ramp. Trading is live on Robinhood, xStocks, and Ondo tokenized stocks and funds.
Additionally, SwapKit automatically applies the relevant geo-restrictions, blocking quotes and swaps for assets unavailable in the user’s jurisdiction.
Swap Widget
SwapKit Widget is a drop-in, fully functional cross-chain swap interface that embeds seamlessly into any website or app. Users can connect wallets, compare live quotes, and execute non-custodial swaps across multiple chains — all without leaving the platform they’re already on. A visual Widget Studio makes brand customization effortless, from colors and default assets to supported wallets, with zero code required. Built-in affiliate fee support means every swap becomes a potential revenue stream, making it as powerful a business tool as it is a user experience upgrade.
Try it out now: SwapKit Widget
Step-by-step integration guide: https://docs.swapkit.dev/swapkit-widget/introduction
Configure fees in the Partner’s Dashboard
Near Confidential Intents support
SwapKit now supports private cross-chain swaps through NEAR Confidential Intents, letting partners offer private trading with no privacy infrastructure of their own. Amounts, sender and routing stay off the public record while the swap executes – the on-chain equivalent of a dark pool, with the same simple UX as a normal swap. Users are protected from front-running, sandwich attacks and copy-trading bots.
Integrators can enable it with a single flag on the quote request, and SwapKit will return only routes that stay private end to end, so no public leg can quietly expose the trade. Fee accrual, reporting and every other feature work exactly as they do on public swaps, so no additional development effort is required.
More details: Privacy Mode docs
Flexible Swap Input
Flexible Swap Input lets a swap settle on the amount that actually arrives instead of the amount that was quoted, and it is now available on NEAR and Flashnet alongside THORChain, Maya and Chainflip. Users can fund a swap from an exchange withdrawal, a hardware wallet or a full-balance sweep without matching the quote to the last decimal, and the swap still executes at live rates rather than stalling or ending in a refund.
Integrators can enable it with a single quote type on the request, and SwapKit will return only routes whose first leg can honor it. Tracking reports the amount actually received, so partner interfaces and reporting stay accurate with no reconciliation work on their side.
More details: Flex Input Quotes
Improved UTXO Transaction Builder
SwapKit now funds a Bitcoin swap from UTXOs held across several of a wallet’s addresses rather than one. Balances are naturally spread over accounts, so a user with enough bitcoin overall could still be told the swap was too large for the address they sent from. The balance they see is now the balance they can swap. Integrators pass up to six addresses on the existing source address field, and Litecoin, Dogecoin, Bitcoin Cash and Dash work the same way.
Quote Intelligence
SwapKit built an internal intelligence platform that measures what providers actually deliver rather than what they quote. Every completed swap is matched back to the quote the user accepted, so fill quality, execution speed and volume can be compared across providers by corridor, trade size and partner. A second stream samples competing venues and their on-chain settlements, showing where SwapKit prices better and where it does not.
Improved Reporting
SwapKit has replaced manually compiled partner reports with an automated report generator. Standard monthly, quarterly and partner-specific templates cover volume, latency, screening, incidents and uptime, include comparisons with the previous period, and export to PDF, CSV or a partner’s own spreadsheet template. Reports take less effort to produce and stay consistent from one partner to the next, so reporting can keep up as our partner base grows.
Limit orders now feed into the same reporting pipeline. Each order is tracked from start to finish, so for the first time we can measure fill rates and limit-order revenue by partner, provider and chain.
New Hires
Two engineers have joined the SwapKit team full-time this quarter.
Daniel (“Drakeoon”)—After more than a year with SwapKit as a part-time contractor, Daniel has joined full-time. He built the Partner’s Dashboard, where partners sign up, configure their integration and track their volume and revenue. He also rebuilt the onboarding experience and led development of the new report generator. He brings deep experience in developer tooling and AI automation.
Juan Carlos (“Hippocampus”)—Juan Carlos joins as SDK & Widget Lead. He is well known in the THORChain ecosystem for successful projects such as RuneBond, a platform that matches THORChain bond providers with node operators, handles the bonding process and includes a swap interface. He now leads the SwapKit SDK, a suite of wallet integrations and crypto utilities that makes it easy to work with 35+ blockchains, and that powers integrations handling over $100M in monthly volume. He also leads the SwapKit Widget development.
Zcash ZODL Summit
SwapKit attended ZODL Summit, held July 8–10 in Prague, Czech Republic. Privacy is a core part of how we think about cross-chain infrastructure, and the summit brought us together with builders and researchers from the Zcash and broader privacy ecosystem to exchange ideas on shielded transactions, self-custody, and the future of private value transfer.
About SwapKit
SwapKit develops technologies and operates services enabling non-custodial, permissionless cross-chain trading for wallets, dApps, and crypto platforms. Through its API and SDK, SwapKit enables seamless swaps across multiple chains - including Bitcoin - to let users trade native assets in a single transaction without handling the underlying complexity.
SwapKit integrators benefit from a unified API to get access to multiple providers, abstracting away integration complexities. Integrators can monetize their SwapKit integration using tailor-made tools to easily configure and collect swap fees. SwapKit supports address AML checks, transaction status tracking, and multi-chain wallet interaction. With fully open-source smart contracts and a continuously expanding chain / asset coverage, SwapKit empowers projects to embed composable cross-chain DeFi capabilities efficiently.
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