Finding an access point into a specific ecosystem is one of the particular issues of the decentralized finance (DeFi) industry. To overcome this difficulty and make it easier for ApeSwap’s users to begin using their DeFi products, they are collaborating with market leader MoonPay to provide a simple fiat on-ramp. On July 21, 2022, ApeSwap will launch a new MoonPay integration that allows users to buy cryptocurrency with fiat using a credit or debit card.
ApeSwap & MoonPay: DeFi Leaders Teaming Up
To increase public accessibility to cryptocurrencies and DeFi, MoonPay was introduced in 2019. Customers can use a credit card or debit card to buy several well-known tokens through the MoonPay platform. To name some of them are:
BNB, the native token of BNB Chain, BUSD, the native stablecoin of Binance, MATIC, the native token of Polygon, the native token of Ethereum, and many more.
Without leaving them, consumers may buy the cryptocurrency of their choice thanks to their cooperation with MoonPay. Although you won’t be able to purchase BANANA directly through MoonPay, they plan to work together, in the long run, to make the utility token available through the platform. At launch, 24 different currencies will be accessible on ApeSwap through MoonPay. You can use a MoonPay-supported token, such as BNB or BUSD, to buy ApeSwap DEX tokens that MoonPay does not support (like BANANA).
Credit/debit card transaction fees will be charged for buy transactions: 4.5 percent overall, of which 1.0 percent will go to the ApeSwap Treasury to fund ongoing decentralized autonomous organization (DAO) operations.
It’s possible that MoonPay won’t support bank transfers through Apple Pay, Google Pay, or other payment methods at launch. The MoonPay team and ApeSwap are collaborating to increase payment possibilities in the future.
