Tuesday, October 26, 2021
HomeNewsMakerDAO Announces Partnership With Simplex for Dai Fiat On-/Off- Ramp

MakerDAO Announces Partnership With Simplex for Dai Fiat On-/Off- Ramp

According to a recent announcement, Decentralized Finance (DeFi) company MakerDAO has collaborated with Simplex payment processor, to give more access for fiat exchange with the Dai (DAI) stablecoin. The announcement suggests that anyone interested in buying Dai may now do so using debit and credit cards of any companies that support Simplex.

Speaking on the new development, Maker’s business development chief in Europe Gustav Arentoft, says it gives customers easy access to DAI.

“Having DAI integrated into Simplex is a benefit to current and future users…it gives them a straightforward fiat on- and off-ramp with access to the industry’s biggest players.”

Now, there is more access to the DAI stablecoin, pegged to the U.S. dollar.

Simplex is a European company that boasts of at least 100 partners. It went live back in April 2014 via joint efforts from Netanel Kabala, Nimrod Lehavi, and Erez Shapira. The platform already works with several major digital asset exchanges including Poloniex, Binance, and Huobi. It also supports several digital assets including Bitcoin (BTC), Ether (ETH), XRP, Litecoin (LTC), Binance Coin (BNB), Stellar (XLM), Binance USD (BUSD), Tron, (TRX), DASH, NANO, and Cosmos (ATOM).

Huobi is also trying to take a bit out of the DeFi pie. It recently announced the launch of its DeFi blockchain’s public testnet.

Image Credits: Pixabay

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