Private Swaps and Sends are Live on swap.thorchain.org, Powered by Houdini

Someone bought his first Bitcoin years ago and held it on an exchange like everyone else. Then the exchanges started closing doors, freezing withdrawals and asking more questions. So he moved to self-custody, and these days he swaps on swap.thorchain.org. Native BTC in, native assets out. No wrapped tokens. No account.

But every swap he makes is public. Anyone with an explorer can follow where his BTC went and which wallet received it.

That's not a bug. THORChain is transparent by design, and we've always been upfront about it, as we covered in THORChain Is Transparent Even With Privacy Coins. That transparency is part of what makes a permissionless protocol trustworthy.

But when you're paying a contractor, moving savings, or keeping a trading wallet separate, you don't always want your whole history on display. Users have been asking for a choice.

Now they have one.

Private Swaps and Sends on swap.thorchain.org Powered by Houdini

THORChain's swap interface now offers private swaps and sends, powered by Houdini. This means you can swap across chains without a direct onchain link between your sending and receiving wallets, and without leaving the swap interface. You can also send crypto privately, which is a like-for-like swap on Houdini. For example, to send BTC privately from your address to another address, you technically do a BTC-BTC swap.

Houdini is a third-party, non-custodial, privacy-focused cross-chain swap aggregator. It routes trades across 120+ networks and never takes custody of user funds. However, a centralized intermediary does have custody at one point during the transaction, and this is how privacy is achieved.

In short, Houdini handles the private route, and you stay in control of your wallet the whole way. For a closer look at how it works, read Houdini's guide to private swaps on swap.thorchain.org.

Privacy When You Need It

Financial privacy is about having control over what you share and with whom. With Houdini integrated into THORChain's swap interface, users can now choose an additional layer of privacy when swapping or sending assets.

Houdini routes private swaps and sends through two separate off-chain exchange partners, breaking the direct public onchain link between sending and receiving wallets. Houdini itself never takes custody of user funds, although the exchange partners handle assets during execution.

However, privacy doesn't mean anonymity or the absence of restrictions. A rivate swap and send is subject to AML and sanctions screening through Houdini's exchange partners. In certain circumstances, transactions may be delayed or stopped with potential additional verification.

The service offered is a separate, optional service powered by Houdini while THORChain's native swaps remain fully transparent, decentralized, and permissionless, exactly as before.

You can choose the route that best suits your needs, with a clear understanding of the benefits and tradeoffs of each.

Learn how Houdini powers private swaps on swap.thorchain.org.

How the Houdini Integration Works

Here's what the integration adds:

• Private tab: private swaps sit alongside standard swaps in the same interface.
• Private Send: send to someone else without a direct onchain link between your wallet and theirs.
• Two exchange partners: each private swap routes through two separate off-chain, non-custodial exchange partners, so no single step connects both wallets. Learn more about how Houdini routes private swaps.
• Fresh delivery wallet: funds arrive from a fresh, single-use wallet.
• Non-custodial: Houdini never holds user funds.
• Built-in screening: every transaction runs through screening.

More Networks, Same Interface

Private swaps and sends don't just add privacy. They open THORChain's swap interface to more of the market.

Houdini routes across 120+ networks, so users can reach chains and assets beyond THORChain's native pools, all from the same interface.

Whether you're moving native BTC or reaching a chain THORChain doesn't support natively, the swap interface now gives you a private route to get there.

What About THORChain's Transparency?

Nothing changes at the protocol level. Standard THORChain swaps stay fully public and traceable, just as they always have. If you want to see exactly what a standard swap records, here's how to read a transaction on THORChain.

How to Make a Private Swap on THORChain's Swap Interface

1. Open swap.thorchain.org and choose the Private tab.

2. It will default to the Swap section. Pick the asset you're selling, the asset you want to buy, and the amount.

3. Enter the receiving address.

4. Review the estimate and fees, then confirm.

Fees and an estimate are shown before you confirm. Private swaps take a little longer than THORChain swaps, because of the extra routing. Availability depends on whether a private route exists for your pair.

Privacy Comes to swap.thorchain.org

Remember our BTC holder? He still swaps on THORChain's swap interface. He still holds his own keys. The only difference is that now, for the swaps and sends that matter, he has a choice.

No wallet link. No custody. No leaving the interface. Just a private route when you want one.

Swap and send privately on swap.thorchain.org