- Uniswap users will be able to buy cryptocurrency via bank transfers.
- Uniswap partnership would benefit MoonPay customers from various countries.
Decentralized (DEX) crypto exchange Uniswap has collaborated with financial firm Moonpay to create a bridge between DeFi and traditional currencies. According to the cryptocurrency exchange, the partnership enables Uniswap users to buy digital assets using a bank account or supported credit or debit card.
Fiat currency Entered into Uniswap
Uniswap announced on December 20, 2022, that its user would soon be able to convert fiat to cryptocurrencies on the Ethereum mainnet, Polygon, Optimism, and Artibrum. Also, the DeFi platform believes that “decentralized exchanges are the safest option than centralized exchanges (CEX).” For trading crypto assets due to their built-in user safety, such as self-custodial wallets, immutable protocols, and a transparent public ledger.
Uniswap is the largest decentralized exchange based on the Ethereum blockchain. Since, Uniswap’s approach would be a game changer in the crypto industry, while peer-to-peer blockchain protocols do not accept fiat pairings, which has been a long-standing problem for DEX users.
However, through the partnership, MoonPay customers in more than 160 countries like the U.S., Brazil, and the United Kingdom are now able to buy cryptocurrency via the Uniswap web app by using any credit and Debit card, Apple Pay, Google Pay, or bank transfer.
Ivan Soto-Wright, CEO of MoonPay, said;
Together, we’re showcasing how you embed accessibility and usability into DeFi — making it easier to onboard the world to Web3.
Further, the decentralized exchange Uniswap launched its own NFT aggregator on November 30, with gas rebates to the first 22,000 NFT users and an airdrop of $5 million USDC.