Moonpay and Matcha launch digital platform accepting fiat currencies
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Moonpay and Matcha launch digital platform accepting fiat currencies 03 June 2021US Reporter: Bob Currie
Image: stock.adobe.com/Sergey Nivens
Cryptocurrency payments specialist MoonPay has linked with decentralised exchange Matcha to launch a decentralised finance (DeFI) platform accepting fiat currency.
This will allow traders to convert digital currency into fiat currency directly on the DeFI platform and to begin trading immediately, according to a statement from the two companies.
While this has been possible on centralised exchanges, decentralised exchanges (DEX鈥檚) have not previously offered a direct way to buy crypto with fiat currencies.
鈥淭he partnership removes one of the most frustrating parts in DeFi: getting started,鈥� says the statement.
The integration of Moonpay onto Matcha will enable the platform to accept over 100 fiat currencies, the companies said.
Matcha enables its users to trade more than 1000 crypto tokens on Ethereum, Binance Smart Chain or Polygon blockchains.
MoonPay鈥檚 鈥渘on-custodial and currency agnostic payments infrastructure鈥� is live in more than 160 countries and will provide payments connectivity for the Matcha platform for over 90 cryptocurrencies.
Moonpay chief executive and co-founder Ivan Soto-Wright said: 鈥淒ecentralised exchanges create new opportunities for crypto but previously the experience remained clunky. Our integration with Matcha has democratised DEX鈥檚 to allow traders to easily convert fiat currency into crypto.鈥�
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Image: stock.adobe.com/Sergey Nivens 