Through this collaboration, Uniswap users are able to purchase cryptocurrencies on the Uniswap Web App using debit cards, credit cards, and bank transfers. In the case of bank transfers, the functionality is available for certain US states, the UK, Brazil, and the Single Euro Payments Area (SEPA).
Moreover, Uniswap announced that its users are able to convert fiat to cryptocurrency on the Ethereum mainnet, Polygon, Optimism, and Artibrum in minutes. The initial cryptocurrencies supported by Uniswap include Dai, Ether, Tether, USD Coin, Wrapped Bitcoin and Wrapped Ether.
According to boardroom.tv, MoonPay is a fintech company that launched in 2019 with a mission to increase cryptocurrency adoption. The company builds payment infrastructures for the crypto market and acts as a gateway to digital assets. MoonPay is most known for its NFT Checkout software solution, which allows users to buy NFTs with credit cards, debit cards, Apple Pay, and other forms of digital payments.
According to Uniswap officials cited by cointelegraph.com, one of the largest obstacles to decentralised finance (DeFi) has been the onboarding experience, since centralised exchanges are considered a more convenient choice by users. With this new feature launch, the company aims to improve the onboarding process and attract more users through features such as no spread fees on USDC, and instant access.
The company believes that decentralised exchanges are a much safer option for users due to their built-in user protection, self-custodial wallets, permissionless, immutable protocols, and transparent public ledger.
In November 2022, Uniswap has released a new privacy policy that involved collecting and storing user data. According to cointelegraph.com, the new policy was released around the time of FTX’s collapse in a bid to add some transparency to the way the company collects and stores user data.
The policy revealed that the exchange collected publicly available blockchain data, information about user devices such as browser information, operating systems, and information about users’ interactions with its service providers.
However, the company emphasised that none of this information comprises personally identifiable information, which includes dates of birth, street addresses, first and last names, as well as IP addresses.
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