Uniswap has partnered with fintech company Moonpay to allow users to buy cryptocurrency on its web app using debit cards, credit cards, and bank transfers.
In the announcement, Uniswap shared that its users will now be able to convert fiat to cryptocurrency on the Ethereum mainnet, Polygon, Optimism, and Artibrum in a matter of minutes.
According to Uniswap, decentralized exchanges are a much safer option than centralized exchanges because of their built-in user protection, self-custodial wallets, permissionless, immutable protocols and transparent public ledger.
The company shared that the decentralized finance onboarding experience has been a major hurdle to adoption, as CEXs are seen as more convenient by users despite associated risks. Uniswap hopes its latest rollout will improve the onboarding process with its no spread fees on USDC, lowest processing fees in the market, and instant access.
Uniswap’s announcement comes at a time when several centralized crypto platforms have collapsed, the latest being FTX.
