Non-custodial exchange KyberSwap has partnered with cryptocurrency exchange Coindirect to launched fiat-to-crypto gateway.
According to KyberSwap’s blog post on Sept. 13, users can now buy digital currencies directly with fiat currencies, taking into account that the exchange currently supports trading of Ether (ETH) and ERC-20 tokens only.
The partnership with MakerDAO-backed third-party service Coindirect enables KyberSwap’s customers to purchase cryptocurrencies using Visa and MasterCard credit and debit cards.
KyberSwap thus joined the ranks of other industry projects supporting fiat-to-cryptocurrency trading. At the beginning of the year, major cryptocurrency exchange Binance expanded to European markets with the launch of a new platform for fiat-to-cryptocurrency trading dubbed Binance Jersey.
Later in July, Binance announced further expansion of its fiat-enabled trading platform in Singapore, but with limited functionalities and only one trading pair.
This spring, Singapore-based cryptocurrency exchange Zebpay expanded its trading services to Australia allowing its customers to trade across five fiat-to-crypto trading pairs including Bitcoin (BTC), ETH, XRP, Bitcoin Cash (BCH) and Litecoin (LTC) both on desktop and Android and iOS apps.
As reported at the end of May, Coinbase’s Emilie Choi said:
“Obviously we are the fiat to crypto bridge. We’re the fiat to crypto bridge and we play a different role than others in the space in terms of trying to be the safe trusted center of the crypto economy.”