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Uniswap Pockets has introduced the capability to exchange cryptocurrency for fiat and transfer funds to bank accounts via Robinhood, MoonPay, and Transak.
The Uniswap Pockets team revealed the rollout of an off-ramp feature in its iOS and Android applications, enabling users to sell supported tokens and receive funds in their local currency directly into their bank accounts. This functionality will soon be available on the web version of Uniswap and the browser extension as well.
The new service is accessible to users in more than 180 countries, with Robinhood, MoonPay, and Transak acting as payment processors. Additionally, Uniswap Pockets continues to facilitate on-ramp deposits using fiat currencies.
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Uniswap Pockets is a non-custodial cryptocurrency wallet created by Uniswap Labs, integrated with Uniswap, one of the largest decentralized exchanges (DEXs).
According to the press release, the crypto-to-fiat exchange process previously relied on centralized exchanges (CEXs), involved various risks, and was often deemed “frustrating.” The new feature enables smooth digital asset-to-fiat conversions in “just a few clicks.”
This announcement follows closely after the U.S. Securities and Exchange Commission (SEC) concluded its investigation into Uniswap Labs. In April 2024, Uniswap received a Wells Notice, signaling regulatory concerns regarding UNI, the platform’s native token.
The message Uniswap Integrates Direct Crypto-to-Bank Withdrawals first appeared on CoinsPaid Media.
