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Gungun Bhatia
Dec 21, 2022
by Gungun Bhatia

Uniswap and MoonPay Collaborate to Enable Users to Buy Crypto with Fiat

Uniswap MoonPay Collaboration

Table of contents

  1. Uniswap and MoonPay Collaboration
  2. Orientation Program for DeFi
  3. Reaction of Uniswap on FTX Failure
Uniswap, a decentralized exchange, has entered into a collaboration with Moonpay, a fintech business, to enable users to purchase cryptocurrency on its website application using banking transactions, debit cards, and credit cards. The bank transfer option is being made available to customers in the majority of US states, Brazil, the UK, and the Single Euro Payments Area, or SEPA.

Uniswap and MoonPay Collaboration

According to the December 20 statement from Uniswap, customers will soon be able to quickly exchange cash for cryptocurrencies on the Ethereum mainnet, Polygon, Optimism, and Artibrum.

Decentralized exchanges (DEX) include built-in user security, self-custodial wallets, permissionless, irreversible protocols, and accountability in public ledgers, according to Uniswap, making them a considerably safer alternative than centralized exchanges (CEX).

Orientation Program for DeFi

According to the user's location, at first, Uniswap will offer Dai, Ether, USD Coin, Tether, Wrapped Bitcoin (wBTC), and Wrapped Ether (wETH).

The business acknowledged that despite the dangers involved, customers still prefer CEXs and that the orientation program for decentralized finance (DeFi) has been a significant barrier to adoption. With its most recent deployment, Uniswap intends to streamline the onboarding procedure due to its zero spread costs on USDC, lowest transaction fees in the industry, and fast access.

Reaction of Uniswap on FTX Failure

The statement from Uniswap comes after the recent failure of FTX, one of the numerous centralized cryptocurrency systems.

According to the resources, the community reacted negatively to Uniswap's decision to update its privacy statement to include the gathering and retention of user data on November 22 because this goes against many of the fundamental principles of cryptocurrency.

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Cryptocurrency FTX MoonPay Decentralized Finance (DeFi) Uniswap decentralized exchanges (DEX) centralized exchanges (CEX) Single Euro Payments Area (SEPA)
Uniswap and MoonPay Collaborate to Enable Users to Buy Crypto with Fiat
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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