- Uniswap joins MonnPay, Robinhood, and Transak to offer direct crypto-to-bank transfers.
- SEC ends Uniswap probe without cahrges, clearing the way for new fintech partnerships.
- Despite the expansion, Uniswap’s UNI token drops 11% amid overall market weakness.
Decentralized exchange Uniswap has bagged a partnership with several payment platforms to bridge the gap between cryptocurrency and traditional banking. The collaboration, which launched on February 27, allows users from more than 180 countries to convert their digital assets directly into bank deposits through platforms like Robinhood, MoonPay, and Transak.
This new functionality addresses a persistent pain point in the cryptocurrency ecosystem. This is the process of moving between digital assets and traditional currency. Uniswap notes that users previously needed to use centralized exchanges and manage complex crypto addresses to cash out their holdings. The integration eases this process with “just a few clicks” within the Uniswap wallet environment.
The service has already gone live on Uniswap’s mobile wallet applications for both Android and iOS devices. The company announced plans to extend these capabilities to its browser extension and web application in the future.
This partnership comes at an important moment for Uniswap following recent regulatory developments. On February 25, the U.S. Securities and Exchange Commission (SEC) concluded its investigation into Uniswap Labs without pursuing enforcement action. This resolution marks a reversal from April 2024, when the company received a Wells notice under former SEC Chair Gary Gensler’s administration.
The regulatory clearing extends to Uniswap’s new partner Robinhood as well. The SEC recently dropped its probe into Robinhood’s cryptocurrency division after threatening legal action against the company in 2024. This regulatory relief for both parties removes a major obstacle to their collaboration.
Related: Crypto Market Faces Downfall After Bitcoin Crashes Below $80K
In January, Uniswap launched its version 4 platform across 12 blockchain networks, featuring an improved user experience and expanded developer options. However, these technical advancements and the Robinhood partnership failed to boost the exchange’s native token.
UNI fell over 11% in the last 24 hours, trading at approximately $7.20 amid broader market weakness. As regulatory clarity improves and infrastructure connections strengthen between traditional finance and decentralized protocols, these types of partnerships may accelerate cryptocurrency integration into everyday financial activities for users worldwide.
