Fiat ramp enabled for buying cryptocurrencies – DiarioBitcoin

After the alliance Uniswap will enable a new Fiat Via ramp Transak, which will allow cryptocurrency purchases in more than 160 countries and with more than 20 payment methods. The measure seeks to facilitate access to services DeFi for many more people.

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• Uniswap confirms alliance with Transak
• This will allow a fiat payment ramp for the purchase of cryptocurrencies
• Purchases can be made directly from Uniswap Wallet
• The measure seeks to attract more people to the market DeFi

The service platform DeFi operating in the network of Ethereum and in other ecosystems, Uniswap, has entered into a strategic alliance with payment infrastructure provider Web3, Transak, which will enable a new fiat payment ramp for the purchase of cryptocurrencies directly from Uniswap Wallet.

This was announced by the team of Transak In a message posted on his X account, where he confirmed the alliance with Uniswap, stating that it will support crypto purchases in over 160 countries with more than 20 payment methods.

Onboarding to DeFi Like Never Before!@Transak 🤝 @Uniswap

📰 Learn more on @TheBlock__ 🔗 https://t.co/BizQCo764F

🦄 @Uniswap integrates @Transak‘s on-ramp to ensure a user-friendly onboarding experience into DeFi 💸

🌍 Buy from 160+ countries
💳 Pay with 20+ Payment Methods… pic.twitter.com/42PumDyEmO

— Transak (@Transak) July 1, 2024

According to a report made by the media The Blockthe measure seeks to facilitate access for people less familiar with the decentralized finance sector, enabling fiat payment mechanisms for cryptocurrencies that can be used within the ecosystem of Uniswap, all directly from your crypto wallet interface, both for browsers and from your smartphone app.

In this regard, the director of operations of Uniswap LabsMary Catherine Lader commented on the alliance:

Our goal is to make DeFi accessible to everyone. Our partnership with Transak expands our ability to ensure a user-friendly onboarding experience that welcomes newcomers to the world of decentralized finance.

Complex moment for Uniswap

The alliance with Transak comes at a key moment for Uniswapas the platform is in the midst of expansion plans while preparing to take on a potential legal battle against the U.S. Securities and Exchange Commission (SEC).

Regarding the latter, the SEC sent to the Uniswap Foundation a Wells Notice to notify about the alleged marketing of unregistered securities through its products and services. The entity stated that it fully intends to fight the corresponding legal battle, since it considers that it has not committed any kind of crime.

After carefully examining the case and the allegations, the legal director of Uniswap, Martin Ammori, rejected the platform being listed as an unregistered securities exchange, claiming that both the platform’s interface and wallet also do not meet the definition handled for unauthorized brokers. He also invited the SEC to seek a more conciliatory stance in this case, since imposing its criteria completely exceeds the authority of the agency.

Recently the Uniswap Foundation presented its most recent quarterly balance sheet, where it reflects that they have approximately USD $41.41 million in fiat currencies and stablecoins, in addition to approximately 730,000 tokens UNI whose value is estimated at USD $8.03 million. Part of these funds will be used to finance its expansion plans and operating expenses.

Article by Angel Di Matteo / Bitcoin Diary

Picture of DiarioBitcoin, free to use, under public domain license

WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be appropriate for retail investors, as the total amount invested could be lost. Check the laws of your country before investing.