MoonPay, the global payments solution for cryptocurrency, has announced an integration with Matcha, a leading decentralised exchange (DEX) aggregator to power the crypto industry’s first DeFi platform to natively accept fiat currency.
Unlike with centralised exchanges, to date, there hasn’t been a direct way to buy crypto with fiat currencies on a decentralised exchange. Now, for the first time, the integration will allow traders to convert their fiat currency into crypto directly on the Matcha platform and begin trading straight away. Integrating MoonPay into Matcha’s onboarding process, the partnership removes one of the most frustrating parts in DeFi: getting started. To mark the announcement, the first $100K in fiat funds onramped through MoonPay and Matcha will be completely free.
MoonPay’s non-custodial and currency agnostic payments infrastructure, which is live in over 160 countries, provides Matcha with an onramp to over 90 cryptocurrencies. The integration of MoonPay onto Matcha will enable the decentralised exchange to accept over 100 fiat currencies, the first of its kind.
Matcha enables users to trade over 1000 crypto tokens on the Ethereum, Binance Smart Chain and Polygon blockchains without any hidden trading fees or commissions. By pooling liquidity from multiple exchanges such as 0x, Uniswap, and Sushiswap, traders can get the best price for their crypto.
Ivan Soto-Wright, CEO and Co-Founder of MoonPay said: “At MoonPay, we want to make cryptocurrency as accessible as possible and now, with our partnership with Matcha, we have hit another industry milestone. Decentralised exchanges create new opportunities for crypto but previously, the experience remained clunky. Our integration with Matcha has rectified this and democratised DEXs to allow traders to quickly and easily convert fiat currency into crypto.”
Clay Robbins, Ecosystem Development Lead at Matcha said: “DeFi and DEXs open the aperture to a host of novel ways users can access financial products on a global scale. However, getting started can be intimidating and confusing. We are excited to have partnered with MoonPay to create a one-stop shop for traders wanting to get involved in DeFi without barriers.”