Uniswap Fiat Services Now Boosted With Transak Support

Key Points:

• Transak and Uniswap Labs partner to enable fiat-to-crypto purchases in the Uniswap Wallet.
• With Uniswap fiat services provided by Transak, users in over 160 countries can buy crypto using multiple payment methods like Apple Pay and Google Pay.
• Uniswap Foundation holds $41.41 million in assets and allocated over $7 million in grants in Q1 2024.

Web3 payment infrastructure provider Transak has teamed up with Uniswap Labs to facilitate seamless fiat-to-crypto transactions directly within the Uniswap Wallet.

Uniswap Fiat Services Expanded Through Partnership With Transak

According to The Block, the collaboration aims to provide a user-friendly on-ramp experience, simplifying access to decentralized finance (DeFi) for new and existing users.

The Uniswap Wallet, a self-custodial application, offers direct access to the Uniswap protocol, the world’s leading decentralized exchange. The integration with Transak allows users to purchase cryptocurrencies with Uniswap fiat services, eliminating the need to transfer funds from centralized exchanges. It is expected to attract a broader audience by streamlining the process of entering the DeFi space.

Users from over 160 countries can utilize a variety of global and local payment methods, including Apple Pay, Google Pay, credit/debit cards, and other localized options, to buy crypto directly by using Uniswap fiat services provided by Transak.

Uniswap Foundation’s Q1 2024 Financial Highlights

In related news, the Uniswap Foundation disclosed its financial status at the end of Q1 2024, revealing holdings of $41.41 million in fiat, cryptocurrencies, and stablecoins. Additionally, the foundation holds 730,000 UNI tokens, each valued at $11.43.

During Q1, the foundation allocated $2.79 million in grants and committed an additional $4.34 million to new grants. While fiat and stablecoins are used for grants and operational expenses, UNI tokens are reserved for employee awards.