Users of the decentralized exchange will also have the option to purchase cryptocurrencies through the use of bank transfers, which will be made available to them.

A market that is not governed by a single authority
The result of a collaboration between Uniswap and fintech startup Moonpay, users of the company’s web app will soon be able to make cryptocurrency purchases using a variety of payment methods, including debit cards, credit cards, and bank transfers. . The ability to make a bank transfer is now being made available to users in most states in the United States, Brazil, the United Kingdom, and the Single Euro Payments Area, which is often abbreviated as SEPA. These countries and regions include the Single Euro Payments Area (SEPA).

In a press release that aired on Dec. 20, Uniswap broke the news to its clients that they could now convert fiat into cryptocurrency on the mainnet of Ethereum, Polygon, Optimism, and Artibrum in a matter of minutes. These cryptocurrencies include artibrum, polygon, and optimism.

Uniswap will initially support Dai, Ether, Wrapped Bitcoin (wBTC), and Wrapped Ether, although this may vary depending on the user’s location. Wrapped Bitcoin (wBTC) will be supported later (wETH). Also, support for USD Coin and Tether is planned.

Because decentralized exchanges (DEXs) include built-in user security, self-custody wallets, permissionless immutable protocols, and transparent public ledgers, Uniswap believes they are a more secure alternative to centralized exchanges (CEXs).

The firm found that the decentralized finance (DeFi) onboarding process has been a major roadblock to widespread adoption of the technology. This is because clients believe that CEXs are more convenient, despite the risks associated with their use. This despite the fact that the use of CEX is associated with risks. Uniswap’s latest filing is part of the company’s plan to simplify the onboarding process by eliminating differential USDC charges, bringing processing fees down to the industry average level, and making it easier for users to access the platform. quickly.