Uniswap Partners with Robinhood, MoonPay, and Transak for Seamless Crypto-to-Fiat Transactions

Uniswap, the leading decentralized exchange (DEX), has partnered with Robinhood, MoonPay, and Transak to facilitate seamless crypto-to-fiat transactions. Starting on February 27, users in over 180 countries can now sell supported crypto assets directly to their bank accounts through these platforms, as announced by Uniswap.

The integration is live on the Uniswap wallet for both Android and Apple iOS, with plans to extend it to the Uniswap extension and web app soon. Uniswap highlighted the historical frustration of moving between crypto and cash, which required users to navigate centralized exchanges and manage crypto addresses. The new feature aims to simplify this process with just a few clicks using the DEX wallet.

This development comes a few days after the U.S. Securities and Exchange Commission (SEC) concluded its investigation into Uniswap Labs, with no plans to pursue enforcement action. Uniswap received a Wells notice from the SEC in April 2022 during Gary Gensler's tenure. The SEC also dropped its probe into Robinhood's crypto division this week.

Uniswap, the world's largest DEX, currently has $4.2 billion in total value locked (TVL), according to DefiLlama. However, TVL has decreased by 30% since the beginning of this year, mirroring the broader crypto market retreat. Uniswap's TVL is also down from its all-time high of $10 billion in 2021.

In late January, Uniswap launched its long-awaited v4 platform, which offers improved user experience and developer options on 12 chains. Despite the partnership and platform upgrade, Uniswap's native token, UNI, slumped 5.4% on the day, falling to $7.60 amid a broader market drop.