If you wish to utilise legal currency, you must perform KYC.
On the 21st, Uniswap Labs, the company that made DEX giant Uniswap, teamed up with MoonPay, a cryptocurrency payment company, to let users connect to fiat currencies with credit cards, etc.In order to use fiat cash, MoonPay must meet KYC (know your customer) rules.
Users can use bank accounts or credit or debit cards to buy cryptocurrencies with fiat currency.Japan, on the other hand, doesn’t agree with it.
When it comes to fees, there is no USDC spread, but credit card fees are charged. We also plan to add a function in the future that will let you change virtual money into real money.
The collapse of FTX has made it easier for people to stop using centralised exchanges, which is leading to more people using DEX and self-managed wallets. But unlike centralised trading, many DEXs don’t have a way to get fiat currency. People think that the partnership between Uniswap and MoonPay, the biggest DEX, is a good example of how DEX functions can be brought together.
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