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Uniswap (UNI), a leading decentralized exchange (DEX), has announced that its mobile app users can now buy cryptocurrencies using their funds on the popular trading platform Robinhood. This new funding method is currently available to users in the United States through the Robinhood Connect feature, which allows customers of the brokerage firm to fund their Web3 wallets without leaving decentralized applications (DApps).
Buying Crypto with Robinhood on Uniswap Mobile App
Users of the Uniswap mobile app can now purchase crypto with a debit card, bank transfer, or directly from their Robinhood balance using Robinhood Connect. This feature is exclusively available for users in the United States. Uniswap’s mobile app already offers a selection of fiat onramp providers, including Coinbase Pay, Moonpay, and others.
To incentivize customers to use Robinhood Connect for the first time, Uniswap is offering a special promotion. Users who purchase $10 worth of crypto using Robinhood Connect in the Uniswap mobile app will receive $10 of USDC in their Robinhood account.
Regulatory Hurdles and Uniswap’s Response
Uniswap’s announcement of the new feature comes at a time when the platform is facing regulatory hurdles in the United States. Last month, the DEX revealed that it had received a Well Notice from the U.S. Securities and Exchange Commission (SEC), indicating that the agency is planning to take enforcement action against the platform.
Despite these regulatory challenges, Uniswap remains determined to defend itself. The platform sees the SEC’s actions as a political effort to target even the most reputable actors in the crypto industry, such as Uniswap and Coinbase.
In conclusion, Uniswap’s new integration with Robinhood Connect allows its mobile app users in the United States to conveniently buy cryptocurrencies using their funds on the popular trading platform. This feature expands the range of fiat onramp options available to Uniswap users, and the platform is offering incentives to customers who use Robinhood Connect for the first time. Despite regulatory hurdles, Uniswap is committed to fighting for its place in the crypto industry.
