Leading Decentralized Exchange Uniswap (UNI) Launches Payments With Credit Card and Bank Transfers

Decentralized finance (DeFi) platform Uniswap (UNI) is announcing that users can now buy cryptocurrencies on its web app using credit or debit cards and through bank transfers.

The leading decentralized cryptocurrency exchange (DEX) is rolling out support for the new payment methods in partnership with MoonPay, a fintech company that builds payment infrastructure for crypto.

“Now you can go direct to DeFi with the Uniswap Web App and buy crypto on our web app using any card or bank transfer in 160+ countries with our first partner, MoonPay.”

The availability of payment options varies depending on the region. Bank transfers, for instance, are only available for users in most of the US, Brazil, Single European Payments Areas (SEPA) and the UK.

The DEX says the crypto assets Ethereum (ETH), Dai (DAI), USD Coin (USDC), Tether (USDT), Wrapped Bitcoin (wBTC) and Wrapped Ether (wETH) are getting support at launch subject to the user’s region. Those based in the US cannot purchase wETH or wBTC.

As centralized exchanges face increased scrutiny amid allegations that former crypto giant FTX misappropriated customer funds, Uniswap says self-custody is the safest option when investing in crypto.

“However, a major barrier to DeFi adoption has been the onboarding experience, compelling users to store their assets on CEXs for convenience, despite the risks.”

The platform says it is making self-custody more accessible.

“We wanted to ensure that all of our users, and users to come, have a safe and secure way to buy crypto— without having to depend on centralized intermediaries.

Now when you connect your wallet to the Uniswap Web App, you’ll be able to buy crypto using fiat. This is an important step towards making DeFi & self-custody more accessible to all users.”

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Featured Image: Shutterstock/Suwin