Uniswap Integrates Direct Crypto-to-Bank Withdrawals

Uniswap Wallet introduced the ability to exchange cryptocurrency for fiat and withdraw funds directly to bank accounts via Robinhood, MoonPay, and Transak.

The Uniswap Wallet team announced the launch of an off-ramp service in its iOS and Android apps, allowing users to sell supported tokens and receive funds in their local currency directly into their bank accounts. This feature will soon be available on the web version of Uniswap and the browser extension as well.

The new service is accessible to users in over 180 countries, with Robinhood, MoonPay, and Transak serving as payment providers. Plus, Uniswap Wallet continues to support on-ramp deposits using fiat currencies.

According to the press release, the crypto-to-fiat exchange process previously required CEXs, came with various risks, and was generally considered “frustrating.” The new feature enables seamless digital asset-to-fiat conversions in “just a few clicks.”

This announcement comes just days after the U.S. Securities and Exchange Commission (SEC) closed its investigation into Uniswap Labs. In April 2024, Uniswap received a Wells Notice, indicating regulatory concerns regarding UNI, the platform’s native token.