Decentralized exchange Uniswap has partnered with fintech company Moonpay to allow users to purchase cryptocurrencies through their web app using debit cards, credit cards, and bank transfers. The wire transfer option will be rolling out to users in most US states, Brazil, the UK, and the Euro Payments Area (SEPA).
In the December 20 announcement, Uniswap shared that its users can now convert fiat on the Ethereum mainnet, Polygon, Optimism, and Artibrum to cryptocurrencies in minutes.
1/ Go straight to DeFi
Starting today, you can now buy crypto on the Uniswap web app using a credit/debit card or bank transfer at the best web3 rates through our partnership with @moonpay! https://t.co/YVyk8e6d2h
— Uniswap Laboratories (@Uniswap) December 20, 2022
According to Uniswap, decentralized exchanges (DEX) are a much safer option than centralized exchanges (CEX) due to their built-in user protection, self-custodial wallets, immutable permissionless logs, and public ledger. transparent.
Initially, Uniswap will support Dai (DAI), Ether (ETH), USD Coin (USDC), Tether (USDT), Wrapped Bitcoin (wBTC), and Wrapped Ether (wETH) depending on the region the user is in .
The company said its shift to decentralized finance (DeFi) has been a major barrier to adoption, as CEX is seen by users as more convenient, despite the risks involved. Uniswap hopes its new offering will make it easy to get started with “no USDC spread fees, the lowest processing fees on the market, and instant access.”
This offer from Uniswap comes at a time when several centralized crypto platforms have collapsed, most recently FTX.