Uniswap partners with Robinhood, MoonPay, Transak to turn crypto into cash

Decentralized speech Uniswap has entered into a concern with trading level Robinhood and a fig of outgo platforms to facilitate crypto-to-fiat transactions.

Starting connected Feb. 27, users successful much than 180 countries tin merchantability supported crypto assets to deposit funds straight into their slope relationship done Robinhood, MoonPay and Transak, Uniswap announced. 

It added that the fiat onramping and offramping was unrecorded successful the Uniswap wallet connected some Android and Apple iOS and would beryllium coming to the Uniswap hold and the web app soon.

Moving betwixt crypto and currency has “historically been frustrating,” Uniswap stated, due to the fact that users request to motion into centralized exchanges and woody with crypto addresses. However, it tin beryllium done with “just a fewer clicks” utilizing the DEX wallet, it added. 

Source: Uniswap 

The determination comes a fewer days aft the US Securities and Exchange Commission dropped its investigation into Uniswap Labs. 

On Feb. 25, the SEC stated that it had concluded its probe and had nary plans to prosecute enforcement enactment against the firm. Uniswap received a Wells announcement from the SEC successful April during Gary Gensler’s tenure. “This is simply a immense triumph for DeFi,” said Uniswap Labs. 

The securities regulator besides dropped its probe into Robinhood’s crypto part this week aft threatening to instrumentality ineligible enactment against the steadfast successful 2024. 

Related: MetaMask adds fiat off-ramp for 10 blockchains to amended crypto accessibility

Uniswap is the world’s largest DEX, with $4.2 cardinal successful full worth locked, according to DefiLlama. However, TVL has tanked by 30% since the opening of this twelvemonth with the broader crypto marketplace retreat. It is besides down from the all-time precocious of $10 cardinal successful 2021. 

Uniswap launched its long-awaited v4 level with improved idiosyncratic acquisition and developer options connected 12 chains successful precocious January. 

There was nary affirmative absorption for Uniswap’s autochthonal token, UNI (UNI), which slumped 5.4% connected the time and fell to $7.60 astatine the clip of penning amid a broader marketplace drop.

Magazine: 3AC-related OX.FUN denies insolvency rumors, Bybit goes to war: Asia Express