The decentralized exchange’s users will also have the option of acquiring cryptocurrencies via the use of bank transfers, which will be available to them.
A marketplace that is not governed by a single authority
As a result of a collaboration between Uniswap and the financial technology startup Moonpay, users of the company’s web app will soon be able to make purchases of cryptocurrencies using a variety of payment methods, including debit cards, credit cards, and bank transfers. The capacity to make a bank transfer is now being made accessible to users in the majority of 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 was issued on the 20th of December, Uniswap broke the news to its customers that they would now be able to convert fiat cash to cryptocurrency on the Ethereum mainnet, 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 according on the user’s location. Wrapped Bitcoin (wBTC) will be supported later (wETH). Additionally, support is planned for USD Coin and Tether.
Because decentralized exchanges (DEX) include built-in user security, self-custodial wallets, permissionless, immutable protocols, and transparent public ledgers, Uniswap believes that they are a safer alternative to centralized exchanges (CEX).
The company made the discovery that the onboarding process for decentralized finance (DeFi) has been a substantial obstacle to the widespread adoption of the technology. This is because clients believe CEXs to be more convenient, despite the risks that are associated with using them. This is despite the fact that the use of CEXs is associated with risks. Uniswap’s most recent introduction is part of the company’s plan to simplify the onboarding process by doing away with spread charges on USDC, bringing processing fees down to the level of the average in the industry, and making it easier for users to have access to the platform quickly.