Uniswap Labs has partnered with fintech company Moonpay to enable its users to purchase cryptocurrencies via the web application using debit cards, credit cards, and bank transfers.
The Service that Uniswap Labs is Preparing to Offer
The newly introduced service aims to solve a long-standing problem for decentralized exchange protocols that do not accept fiat. Uniswap Labs made fiat-to-crypto conversions possible on Ethereum mainnet, Polygon, Optimism, and Artibrum as part of the agreement. According to the official announcement, depending on the region, the feature will initially support Dai, Ether, USDC, USDT, Wrapped Bitcoin (wBTC), and Wrapped Ether (wETH).
Uniswap continued its statement, saying that major payment methods such as cards and bank transfers are supported, but their availability may vary depending on the region. The USA, Brazil, SEPA, and the United Kingdom are the countries that currently support bank transfers.
Trying to remove one of the main barriers to DeFi adoption, the new service boasts “No spread costs on USDC, lowest transaction fees in the industry, and instant access”.
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