Uniswap Labs, the developers behind decentralized cryptocurrency exchange Uniswap, have announced a partnership with MoonPay that will allow Uniswap users to purchase digital assets using a bank account or supported credit or debit card. The deal aims to solve a long-standing problem for decentralized exchange (DEX) users, as peer-to-peer blockchain protocols do not currently support fiat pairs, unlike centralized exchanges like Coinbase and Kraken. MoonPay, a digital asset infrastructure and payments processor, will handle the back-end of the arrangement, which allows users in over 160 countries to purchase crypto using direct bank transfers and credit or debit cards. The exact timeline and terms of the partnership were not disclosed. The deal puts Uniswap in competition with Coinbase, which offers the option to convert assets to stablecoin USDC and withdraw them for free. Uniswap claims to offer the lowest processing fees on the market and will not take a cut of the spread on USDC transactions, though processing fees will still apply.
