Subscribe to Our Newsletter
Tuesday July 05, 2022
Bitcoin (BTC) $19,700.38   Ether (ETH) $1,125.68
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
No Result
View All Result
Easily Swap USDT (TRC20) & More
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
CryptoNinjas
Home Blockchain Assets

MakerDAO and Wyre partner to provide access to Dai Stablecoin in over 30 countries

Published by CryptoNinjas.net
08/14/2018
MakerDAO and Wyre partner to provide access to Dai Stablecoin in over 30 countries

MakerDAO, the creator of Dai, a decentralized stablecoin based on the Ethereum blockchain, and Wyre, a blockchain money transfer company operating a regulated global payment infrastructure, today announced the availability of fast and compliant conversion of fiat currencies to Dai.

Working together, MakerDAO (MKR) and Wyre allow organizations to compliantly move fiat currency directly into and out of Dai, removing exposure to the unpredictability of speculative cryptocurrencies like Ethereum or Bitcoin while benefitting from the speed, transparency, and security of the blockchain.

Pairing Dai to Wyre’s trading engine and fiat on-ramps and off-ramps will enable nearly-instant movement of funds across borders. By decreasing the amount of time it takes to clear payments, businesses can increase the number of payment cycles, thereby increasing revenue. Remittance platforms or crypto services can also settle instantly in Dai rather than use wires which can take up to 48 hours.

For organizations looking to use Dai, Wyre offers an API to connect bank accounts to the blockchain through Dai, while taking care of AML/KYC onboarding and compliance. Organizations can programmatically access Dai trading pairs against fiat currencies (USD, EUR, AUD, GBP, CAD, HKD, CNY) as well as major cryptocurrencies (BTC and ETH). On-ramps and off-ramps for local settlements are currently available in 30+ countries to API partners.

[perfectpullquote align=”full” bordertop=”false” cite=”Rune Christensen, CEO of MakerDAO” link=”” color=”” class=”” size=””]”As part of our mission to level the economic playing field, we’re thrilled to work with Wyre to offer developers a way to build seamless connections to and from a world of fiat currencies and Dai, giving organizations access to a truly decentralized and stable currency pegged to the US dollar. Expanding the Maker ecosystem, organizations can now benefit from the instant, secure and scalable power of blockchain without having to first buy/sell volatile crypto assets like Ethereum or Bitcoin.”  [/perfectpullquote]

[perfectpullquote align=”full” bordertop=”false” cite=”Michael Dunworth, CEO of Wyre” link=”” color=”” class=”” size=””]”We’re committed to developing partnerships with leaders like MakerDAO to enable the blockchain ecosystem to evolve at a faster pace. With our API, developers can leverage our experience in banking and compliance with the stability of Dai stablecoin to build and engage their communities, cutting through the red tape, and leaving the off-chain complications to a regulated money services business.”[/perfectpullquote]

Held on the blockchain, Dai achieves stability via an open smart contract platform that allows anyone in the world to lock up their assets as collateral and issue Dai against them. Unlike other stablecoins, there is no need to blindly trust a third party.

When users want to retrieve their collateral, they simply return the Dai they issued plus a fee based on how long it was outstanding. True to the spirit of the blockchain, no one can alter these core mechanics of Dai, making it a safe and predictable form of money. Launched in 2017, Dai has successfully maintained a soft peg to the US dollar.

250
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Cryptocurrency exchange AscendEX integrates Wyre’s fiat-to-crypto API

08/23/2021
Cyptocurrency exchange AscendEX integrates Wyre’s fiat-to-crypto API

Wyre, a blockchain and crypto payment service, announced today that cryptocurrency exchange AscendEX has integrated its 'Checkout' API and widget. Wyre's API streamlines the fiat-to-crypto conversion process, allowing anyone can acquire crypto assets with...

Read more

Stellar Development Foundation invests $5M in blockchain payment app Wyre

01/26/2021
Stellar Development Foundation invests $5M in blockchain payment app Wyre

Today, the Stellar Development Foundation (SDF) announced a $5 million USD Enterprise Fund investment in Wyre, a blockchain payments company. The investment will introduce a wide variety of payment APIs to fintech applications on...

Read more

Pundi X and MakerDAO offer LATAM merchants free XPOS crypto payment device

02/17/2020
Pundi X and MakerDAO offer LATAM merchants free XPOS crypto payment device

Pundi X, a blockchain payment solutions provider, and MakerDAO, the creator of Dai, the first decentralized stablecoin based on the Ethereum blockchain, today announced the launch of the Crypto Merchant program. Qualified merchants will...

Read more

Wyre introduces purchase on-ramp for Liquid Bitcoin (L-BTC)

02/11/2020
Wyre introduces support for Liquid Bitcoin (L-BTC)

Blockchain payment company Wyre, announced today that it has added support for Liquid Bitcoin (L-BTC) as the newest asset to its platform. Currently, L-BTC will only be available for purchase through its V2 Apple...

Read more
Load More

Discussion about this post

Where to Exchange

Crypto services suite in Spanish Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
America's first regulated bitcoin exchange Visit
  • Trending
  • Latest
Cardano asset trading platform Tent integrates COTI stablecoin DJed

Cardano asset trading platform Tent integrates COTI stablecoin Djed

06/29/2022
vlists new USDT-based spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

MoonXBT adds new USDT spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

06/30/2022
Router Protocol launches its modular cross-chain bridge: Voyager

Router Protocol launches its modular cross-chain bridge: Voyager

06/29/2022
Asian crypto technology solutions firms ChainUp and HS88 team up to grow market

Asian crypto technology solutions firms ChainUp and HS88 team up to grow market

06/30/2022
vlists new USDT-based spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

MoonXBT adds new USDT spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

06/30/2022
Asian crypto technology solutions firms ChainUp and HS88 team up to grow market

Asian crypto technology solutions firms ChainUp and HS88 team up to grow market

06/30/2022
Societe Generale – FORGE selects METACO to manage blockchain asset capabilities

Societe Generale – FORGE selects METACO to manage blockchain asset capabilities

06/30/2022
Cardano asset trading platform Tent integrates COTI stablecoin DJed

Cardano asset trading platform Tent integrates COTI stablecoin Djed

06/29/2022
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy