Pact Swap, a cross-chain decentralised exchange (DEX), has recorded $6.86 million in trading volume in just 30 days, signaling early traction as decentralised trading continues to gain ground against centralised platforms. Despite launching only in Q2 2025, the protocol’s total volume has already reached $22.8 million during its initial growth phase.
While larger DEXs dominate the sector, Pact Swap’s momentum points to an emerging trend in the crypto market. Traders, merchants, and liquidity providers (LPs) are increasingly shifting toward — or prioritising — non-custodial options over custodial counterparts. Industry research highlights the growing share of DEX activity as liquidity improves and users move to platforms where asset control remains fully on-chain.
Stephen Morris, CEO of Pact Swap Labs, said:
‘This is exactly what we were expecting and hoping to see when we built Pact Swap: real adoption driven by real utility. The growth we’re seeing in trade volume alone shows that merchants and platforms performing treasury swaps are doing so non-custodially, rather than purely for short-term trading activity. The trend is clear, and our cross-chain DEX is ready to support a wide range of cross-chain needs.’
A key driver behind Pact Swap’s recent volume growth is its integration with a non-custodial treasury management platform. Through this partnership, merchants using that platform can swap treasury assets directly via Pact Swap without leaving their existing environment. This creates more efficient throughput from merchant and treasury flows and helps explain why volumes are rising faster than unique user growth.
Instead of relying purely on retail speculation, Pact Swap is positioned to capture usage tied to settlement and treasury management — a significant emerging category in modern DEX demand. The protocol operates without validators, bridges, or intermediary relayers, removing components that often increase complexity, cost, and the attack surface in cross-chain systems.
Built on Coinweb’s reactive smart contracts, Pact Swap’s cross-chain execution runs without adding new consensus layers, aiming to keep operations lean while maintaining deterministic and verifiable settlement across Layer-1 (L1) networks.
Through Pact Swap’s collateralised PACT framework, each swap is enforced with 2x overcollateralisation via on-chain logic. If one party fails to settle, the protocol automatically compensates the counterparty, creating a failure-resilient mechanism without the need for external oversight or dispute resolution.
Toby Gilbert, co-founder of Pact Swap Labs and Coinweb, said:
‘Cross-chain trading doesn’t need to — and shouldn’t — come with huge overheads or extreme collateral requirements. Pact Swap’s goal is to make trustless swaps more capital-efficient while removing the bridge and validator risks we’ve seen historically. These risks have held back the progression of the space, and we’re proud to help fuel the future of decentralised finance.’
Pact Swap is also targeting one of the largest gaps in cross-chain decentralised finance (DeFi): native Bitcoin support. The protocol enables direct swaps of Bitcoin and other UTXO-based assets without relying on wrapped tokens or synthetic representations. This unlocks access to one of crypto’s most liquid and widely held assets in its native form — a capability still rare among cross-chain DEXs today.
The protocol will support permissionless listings across multiple chains, allowing projects and users to deploy new trading pairs without centralised approval. This accelerates liquidity formation and reduces the gatekeeping obstacles that persist in many cross-chain trading environments.
Recent network upgrades are expected to become more visible through the front end in early February. These include implemented multi-route liquidity improvements that will soon automate optimal routing across LPs, a fee model tied to optimisation of Coinweb smart contract execution rather than traditional trading fees, and expanded Bitcoin and UTXO support — including Ledger-based signing for stronger custody controls.
About Pact Swap
Pact Swap is a next-gen cross-chain DEX that enables seamless, native swaps of assets like Bitcoin and TRON across incompatible chains without relying on bridges or wrapped assets. Built on Coinweb’s modular execution layer, Pact Swap targets up to 95% lower fees than legacy cross-chain protocols and supports permissionless listings, high composability, and near-instant finality.
