Decentralized finance (DeFi) platform Uniswap (UNI) announces that users can now purchase cryptocurrency on its web application using credit or debit cards and through bank transfers.
The leading decentralized cryptocurrency exchange (DEX) is rolling out support for the new payment methods in partnership with MoonPay, a fintech company building payment infrastructure for crypto.
“Now you can go straight to DeFi with the Uniswap web app and buy cryptocurrency on our web app using any card or bank transfer in over 160 countries with our first partner, MoonPay.”
Availability of payment options varies by region. Bank transfers, for example, are only available to users in most of the US, Brazil, Single European Payments Areas (SEPAs), and the UK.
The DEX says that crypto assets Ethereum (ETH), Dai (DAI), USD Coin (USDC), Tether (USDT), Wrapped Bitcoin (wBTC) and Wrapped Ether (wETH) are receiving support at launch subject to user region . Those based in the US cannot buy wETH or wBTC.
As centralized exchanges face increased scrutiny amid allegations that former cryptocurrency giant FTX misappropriated client funds, Uniswap says self-custody is the safest option when investing in cryptocurrencies.
“However, a major barrier to DeFi adoption has been the onboarding experience, which forces users to store their assets on CEX for convenience, despite the risks.”
The platform He says is making self-care more accessible.
“We wanted to make sure that all of our users, and future users, have a secure way to buy crypto, without having to rely on centralized intermediaries.
Now when you connect your wallet to the Uniswap web app, you will be able to buy cryptocurrency with fiat. This is an important step in making DeFi and self-custody more accessible to all users.”
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Featured Image: Shutterstock/Suwin