Uniswap has added new on-ramping and off-ramping features to its wallet, thanks to the collaboration with the trading platform Robinhood and other payment platforms MoonPay and Transak.
Uniswap with Robinhood, MoonPay, and Transak to transform crypto into cash more easily
Uniswap has announced a new collaboration with Robinhood, MoonPay, and Transak to facilitate fiat offramping and convert crypto into cash.
“Transform cryptocurrencies into cash with the Uniswap wallet. Fiat offramping is now live, making the transition between crypto and cash easier than ever. No extra steps. No hassle.”
In practice, the famous decentralized crypto-exchange (or DEX) has just added the function of fiat onramping and offramping in its wallet. At the moment, these functions are already available in the Uniswap wallet on Android and Apple iOS, and very soon, they will also arrive in the Uniswap extension and web app.
Thanks to the collaboration with Robinhood, MoonPay, and Transak, users will be able to sell the supported cryptocurrencies to deposit the funds directly into their bank account.
Uniswap with Robinhood, MoonPay, and Transak for fiat offramping in a few clicks
The new Uniswap feature, together with Robinhood, MoonPay, and Transak, aims to transform crypto into fiat currencies in a few clicks.
In this regard, Uniswap has described this operation as a “hassle,” since users have to access centralized exchanges and deal with crypto addresses to carry it out. Hence, here is its solution to simplify this process on behalf of the users.
In the last 24 hours, the news of the new feature by Uniswap has not yet received a positive response from investors.
In fact, UNI continues to follow the general downward trend of the crypto market. At the time of writing, UNI is worth $7.14, in a dump of -11% compared to 24 hours ago. Not only that, the price of UNI is in a dump of -23% compared to seven days ago.
A trend that also reflects the performance of Bitcoin (BTC), the leader of crypto, which has just fallen below $80,000. At the time of writing, BTC is worth $78,823, in a dump of 8% compared to 24 hours ago and 20% compared to seven days ago.
The SEC and the dismissal of the case against Uniswap Labs
Even though the price of UNI prefers to follow the general crypto trend, rather than the advancement of the project, Uniswap has nevertheless achieved other types of conquests.
In fact, just a few days ago, the Securities and Exchange Commission (SEC) of the USA closed its legal case against Uniswap Labs, which began in April 2024.
In practice, after OpenSea, Robinhood, and Coinbase, the SEC seems to have decided to “loosen its grip” with Uniswap as well. The accusation against the DEX was of operating as a broker of unregistered securities and issuing assets considered as “security”.
With these new revelations from the SEC, it seems that even the DeFi sector will be able to operate without the fear of legal repercussions and in a more favorable regulatory environment.