Decentralized exchange aggregator 1inch Network partners with Mercuryo, a cross-border payment network, to offer its users a more seamless gateway to DeFi – potentially opening up the market to greater adoption.
“Till date, some users are discouraged from entering the DeFi ecosystem as most of the prevailing options for purchasing crypto are too complicated and inconvenient,” added Sergej Kunz, co-founder of the 1inch Network, outlining:
“The integration between 1inch and Mercuryo offers everyone a user-friendly due to enter the space, purchase crypto with fiat and start trading or securely hold their assets.”
As per Mercuryo’s CEO and co-founder, Petr Kozyakov, his company has seen “great demand” for fiat onramp solutions to DeFi:
“It’s impossible to ignore DeFi if you check out how briskly the industry is evolving. We see great demand from our users and partners to permit fiat-on-ramp solutions for DeFi enthusiasts. And that we are proud to be integrated into the 1inch Wallet, as we value the facility of its supportive community.”
The 1inch Network has been within the headlines recently after expanding into Polygon – a move that opened additional liquidity sources and better throughput for its users. Today on 27th Apr., 1inch also launched a new mobile wallet on Apple iOS, permitting its users to instantly swap tokens on their mobile devices.
DeFi continues to be one of the most well-liked segments of the crypto market. Despite the recent market downturn, the DeFi sector accounts for nearly $126 Bln in total value locked, consistent with the latest industry figures. That number peaked well north of $160 Bln earlier this month. The entire market cap of DeFi projects is now worth over $107 Bln.