Binance

Kyber Network (KNC), a decentralized exchange protocol, unveiled this week that KyberSwap has become the first DEX to support direct ether (ETH) purchases using fiat.

According to the announcement, the functionality is made possible through a partnership with Coindirect, a digital currency service provider backed by Concentric, MakerDAO and Blockchain.com.

Investors can now purchase ether directly through KyberSwap’s web and mobile apps using a credit card. From there, the ETH can be converted into more than 70 ERC-20 tokens.

“The Kyber team met many people during recent Ethereum events who were keen to join the blockchain ecosystem but weren’t sure where to begin,” said Sunny Jain, KyberSwap’s head of product. “We realized that a lot of people who have never held digital assets find the current process extremely complex. This inspired our partnership with Coindirect to build a simple and secure fiat-to-crypto gateway, helping to increase crypto adoption worldwide.”

Coindirect founder and CEO Jesse Hemson-Struthers added, “We are excited to work with Kyber Network to introduce one of the first fiat-to-crypto gateways for the decentralized finance ecosystem. Together, we hope to make it simpler for people to purchase their first digital asset and equalize people’s access to the global financial markets.”

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More: Buy Crypto with Fiat at KyberSwap
Related: HTC Partners With Kyber Network (KNC) to Add Token Swaps to the Exodus 1

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Bovada

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