Top decentralized exchange Uniswap (UNI) has introduced Robinhood Connect to its mobile app, allowing US-based users to purchase crypto directly from their Robinhood accounts. This integration provides another fiat onramp option, alongside existing providers like Coinbase Pay and Moonpay, catering to users' preference for seamless funding of their Web3 wallets within decentralized applications.
Uniswap Integrates Robinhood Connect, Enabling Mobile App Users to Purchase Crypto with Robinhood Funds
New York, NY, March 8, 2023 - Uniswap, a leading decentralized exchange (DEX), has announced the integration of Robinhood Connect into its mobile application, allowing users to purchase cryptocurrencies directly from their Robinhood accounts. This new feature provides a convenient and seamless experience for users seeking to bridge the gap between traditional finance and decentralized platforms.
Robinhood Connect is a service that enables Robinhood customers to link their brokerage accounts to Web3 wallets without exiting decentralized applications (DApps). By utilizing Robinhood Connect, Uniswap mobile app users can now acquire cryptocurrencies using a debit card, bank transfer, or directly from their Robinhood balance.
The integration of Robinhood Connect expands the range of fiat onramp providers available within the Uniswap mobile app, which previously included Coinbase Pay and Moonpay. This move reflects Uniswap's commitment to offering a comprehensive and accessible platform that meets the evolving needs of its user base.
To incentivize adoption, Uniswap is offering a promotion to first-time Robinhood Connect users who make a cryptocurrency purchase of $10 or more through the Uniswap mobile app. These users will receive $10 worth of USDC (USD Coin) credited to their Robinhood accounts.
This announcement comes amidst regulatory scrutiny faced by Uniswap in the United States. Last month, the DEX received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), signaling the agency's intent to pursue enforcement action against the platform. Uniswap has expressed its readiness to contest the SEC's allegations, maintaining its position as a compliant and reputable actor in the cryptocurrency industry.
"This is the latest political effort to target even the best actors in crypto like Uniswap and Coinbase," Uniswap stated in response to the SEC's notice.
The integration of Robinhood Connect into the Uniswap mobile app represents a significant step forward in the evolution of decentralized financial services. By bridging the gap between traditional finance and Web3, Uniswap empowers users with greater freedom and control over their financial assets. The integration also underscores Uniswap's commitment to innovation and its mission of fostering a more accessible and equitable financial system.
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