Decentralized exchange (DEX) Uniswapannounced that it has signed an agreement with Moonpay. With the agreement, users will be able to purchase cryptocurrencies using credit and debit cards. Although this development will contribute to the stock market, it is not a positive development for the Web3 ecosystem.
The agreement with Moonpay will be valid in the US, Brazil, UK and Eurozone at the first stage.
“From today, thanks to our partnership with @moonpay, you can now enjoy the best rates on the web3 using credit/debit card or wire transfer via the Uniswap Web App. crypto- You can buy!”
The statement also detailed which assets users can buy with fiat money. Ethereum (ETH), Optimism (OP) and Arbitrum was on the list. On the other hand, Uniswap stated that it will also provide support for Dai, USDC and USDT.
In some regions, there will be support for Wrapped Bitcoin (wBTC) and Wrapped Ether (wETH). This will encourage more users to invest in cryptocurrencies.
Although the agreement with Moonpay is beneficial in terms of convenience and usability, it will also blur the distinction from centralized exchanges. Uniswap, which draws attention among decentralized exchanges, was heavily criticized after this agreement. Partnership of the decentralized exchange with a centralized application, Web3 It is a detail that is quite against the narrative that is at the foundation of the ecosystem.
Koinfinans.com As we have reported, Uniswap came to the fore with the changes it made a while ago. The exchange stated that with the changes it made in November, it could collect more data from users. The exchange pointed out that DeFi is difficult to adopt due to its poor user experience. Many investors have been inclined to prefer centralized exchanges over DeFi because of such difficulties.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.