Two well-known players in the cryptocurrency and fintech space recently forged alliance to facilitate cryptocurrency payment system. According to a cointelegraph.com report, users will now be able to purchase cryptocurrencies using debit cards, credit cards, and bank transfers. Thanks to a partnership between decentralized exchange (DEX) Uniswap and financial technology firm Moonpay. The bank transfer option has reportedly been made available in the majority of US states, Brazil, the UK, and the Single Euro Payments Area (SEPA).
The Ethereum mainnet, Polygon, Optimism, and Arbitrum, according to Uniswap, all allow for the conversion of money to cryptocurrencies. Due to built-in user protection, self-custodial wallets, permissionless, immutable protocols, and a transparent public ledger, it is thought that Uniswap views DEXs as being safer than centralised exchanges (CEXs).
depending on the user’s location, Uniswap initially plans to support Dai, Ether, USD Coin, Tether, Wrapped Bitcoin (wBTC), and Wrapped Ether (wETH). The company claimed that the onboarding situation for decentralized finance (DeFi) has made uptake difficult. With its “no spread fees on USDC, lowest processing fees in the market, and instant access,” Uniswap believes that its recent rollout will enhance the onboarding experience.