Crypto swapping allows users to quickly and easily switch between currencies on both centralized and decentralized exchanges.
Crypto-to-crypto swaps are the direct exchange of one cryptocurrency for another at the prevailing market rate. Unlike traditional exchanges, which would require fiat currency deposits and a longer process, crypto-to-crypto swaps facilitate the exchange seamlessly.
Swaps play a major role in enhancing the liquidity and efficiency of cryptocurrencies. The feature enables users to barter their cryptocurrencies with other coins in their wallets, enhancing the efficiency of the ecosystem as a whole and reducing the risk of censorship or control.
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Source: https://cointelegraph.com/explained/crypto-to-crypto-swaps-explained