Uniswap announced on December 20th that it now supports the purchase of crypto using credit cards, debit cards and bank transfers directly on the Uniswap Web App. The integration will allow for the quick transfer of fiat to crypto and onto the Ethereum mainnet, Polygon, Optimism, and Arbitrum for easy trading.
Fiat-Crypto Integration Possible Through Partnership with Moonpay
The new fiat-to-crypto purchase feature is made possible through a collaboration between Uniwap and Moonpay. The service supports many payment methods but will vary depending on the region. The team explained that…
Bank transfers are only available for most of the US, Brazil, SEPA, and the UK. See the MoonPay Help Center for more information on supported payment methods and fiat currencies.
DAI, ETH, MATIC, USDC, USDT, WBTC and WETH To Be Supported
Concerning which digital assets will be supported for purchase, Uniswap explained that they would support DAI, Ethereum, Polygon (MATIC), USDC, Tether (USDT), Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH).
However, the region will also determine access to these digital assets for purchase. For example, US users cannot purchase WETH or WBTC directly using their cards or bank accounts.
KYC Required With Additional Buy Limits
In addition, access to the fiat to crypto purchases on Uniswap is hinged upon going through regular Know-your-customer (KYC) procedures. But the verification will not be done directly on the Uniswap platform but through Moonpay.
Furthermore, purchases will have the following maximum limits.
© Solana Daily Brief, Inc. All Rights Reserved. This article is for informational purposes only. It is not to be used as legal, tax, investment, financial, or other advice.Buy limits depend on which cryptocurrency you buy and which fiat currency you use. Notably, USDC has an upper limit of 10,000 on Arbitrum and Optimism while popular fiat currencies are capped at USD at 12,000, GBP at 9,000, EUR at 10,000, and CAD at 16,000.