Facebook X (Twitter) LinkedIn Telegram
    • About
    • Advertise
    • Submit Press Release
    • Contact
    Facebook X (Twitter) LinkedIn Telegram
    BlockonomiBlockonomi
    • Prices
      • All Coins
      • Bitcoin Price
      • Ethereum Price
      • Ripple Price
      • EOS Price
      • Litecoin Price
      • Monero Price
      • Binance Coin Price
      • Bitcoin Cash Price
      • Chainlink Price
      • Cardano Price
      • Stellar Price
      • Tron Price
    • Sections
      • All
      • Analysis
      • Bitcoin
      • Ethereum
      • Education
      • Trading
      • Buying
      • DeFi
      • NFTs
      • Metaverse
      • Exchanges
      • Brokers
      • Guides
      • Gaming
      • Privacy
      • Business
      • Finance
      • Fintech
      • Regulation
      • Security
    • Claim Free Crypto!
    • Gamble With Crypto!
    • Easily Buy Crypto!
    Home / About / Advertise / Submit Press Release
    BlockonomiBlockonomi
    News

    Kyber Network DEX Launches Its Own Fiat-Crypto Gateway

    William M. PeasterBy William M. PeasterSeptember 13, 2019No Comments4 Mins Read
    Telegram Twitter LinkedIn WhatsApp Facebook Email
    Kyberswap
    Share
    Facebook Twitter LinkedIn Email Telegram WhatsApp

    Kyber Network, the popular on-chain liquidity aggregator for Ethereum and ERC20 tokens, has recently made strides with the practicality of its decentralized exchange (DEX), KyberSwap.

    Now, the DEX is getting that much more useful as its builders have just unveiled a new fiat-to-crypto gateway for the platform. Announced by the Kyber team on September 13th, the new fiat portal, which will be available to users in more than 100 countries, will allow traders to purchase ether (ETH) with a credit card to thereafter begin trading in any of KyberSwap’s 70 some supported cryptocurrencies.

    Kyberswap

    The fiat gateway comes as part of a collaboration with Coindirect, a cryptocurrency service portal backed by the likes of Blockchain.com and the MakerDAO team. Accordingly, KyberSwap will position itself toward the tipping spear of DEXes in being one of the firsts ever to offer fiat functionalities.

    As Sunny Jain, Head of Product at KyberSwap, explained on the news:

    “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. 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.”

    “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,” Coindirect chief executive officer Jesse Hemson-Struthers added.

    Kyber in the News

    Table of Contents

    • Kyber in the News
    • Mission Up, Coin Down

    Kyber Network has seen its share of headlines so far in 2019.

    Most recently, Malta-based cryptocurrency exchange giant Binance announced in July that it had partnered with Kyber Network to bring the platform’s aggregated liquidity via multiple decentralized exchanges to Binance’s in-house wallet, Trust Wallet.

    “The Kyber Protocol will give all Trust Wallet users more options to instantly trade their assets and tap into a large pool of ERC20 token liquidity,” Trust Wallet founder Viktor Radchenko said.

    Before that, the KyberSwap team unveiled the rollout of non-custodial limit order trades on its platform around the same time as the Binance partnership was revealed. The service let users configure trades when a given price was reached

    The capability allows traders to set up trades to buy or sell a given cryptocurrency when a specific price is hit, but without having to deposit any given cryptocurrency first. That’s because funds are automatically moved when a KyberSwap trade executes.

    In the same month, the Kyber Network neared the total transaction volume mark of one million ether. As of the beginning of July, the platform had processed over 827,000 ether in volume. Relatedly, the project’s Kyber Network Crystal (KNC) fee token is deflationary, so more than one million KNC had been burned since the platform launched in February.

    Kyber Network co-founder and CEO Loi Luu said at the time:

    “We’re finding strong burgeoning growth for decentralized financial products and the implications of this on finance, banking, and trade are tremendously understated. With monolithic companies like Facebook investing into the industry, the Kyber team remains committed to providing a decentralized framework for all blockchain stakeholders to break up the monopoly of data, wealth and authority that lies ahead.”

    Mission Up, Coin Down

    The Kyber project is making moves in recent months, but that hasn’t changed the fact that the KNC token is presently far off from its all-time high of $5.35 USD.

    At press time, KNC is trading around the $0.19 mark. That’s down approximately 97 percent from the project’s peak price.

    Whether Kyber can recover to its better days remains to be seen. But if Friday’s news is any indication, the project isn’t going to give up without a fight.

    Advertise Here
    William M. Peaster
    • Website
    • X (Twitter)
    • Instagram
    • LinkedIn

    William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster

    Related Posts

    EOS Network – An Enterprise-Grade Blockchain Operating System

    November 29, 2023

    Former OneCoin Compliance Chief Pleads Guilty to Fraud and Money Laundering

    November 10, 2023

    After The SBF Verdict, Where Does the Crypto Market Go Next?

    November 4, 2023

    Comments are closed.

    Coinbase Earn
    Advertise Here
    Gambling
    • mBit Casino
      VisitReview
    • BC Game
      VisitReview
    • Duelbits
      VisitReview
    • BitcoinCasino
      VisitReview
    • FortuneJack
      VisitReview
    • 1xBit
      VisitReview
    Exchanges
    • KuCoin
      VisitReview
    • Coinbase
      VisitReview
    • Binance
      VisitReview
    • PrimeXBT
      VisitReview
    Koinly
    Advertise Here
    Trading Bots
    • 3Commas
      VisitReview
    • Cryptohopper
      VisitReview
    • CoinRule
      VisitReview
    3commas Trading Bot
    Advertise Here
    All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.
    Blockonomi™ Copyright © 2017 - 2023 Kooc Media Ltd. All rights reserved. Registered Company No.05695741
    Network: Moneycheck - Finance News / Beanstalk - NFT & Metaverse News
    • About
    • Contact
    • Deals
    • Advertise
    • Privacy Policy
    • Terms & Conditions

    Type above and press Enter to search. Press Esc to cancel.