AirSwap, the ERC20 decentralized exchange protocol, announced today the ability to support a fiat on-ramp directly through integration with Wyre, a blockchain payment technology company.
Now, users will be able to exchange fiat currency (USD, GBP, EUR, AUD) for cryptocurrency (ETH) — all within their self-custodied wallet using the AirSwap trading interface.
By enabling a fiat on-ramp on AirSwap, users are empowered to always maintain control of their private keys in an environment dedicated to supporting peer to peer trade. The integration allows individuals to purchase cryptocurrency via ACH/wire bank transfers, without ever having to deposit funds onto a centralized exchange.
“Peer-to-Peer/OTC style trading is always a strong starting point for building meaningful liquidity. AirSwap really gets this. Working with them to mitigate counter-party risk, without compromising on meaningful liquidity is so exciting to be part of. As centralized exchanges continue to suffer hacks and loss of customer funds at an alarming rate, the need for decentralized trading solutions remains critical. While there are numerous non-custodial trading options currently available, one problem has always remained — traders often have to first procure their cryptoassets on custodial platforms and then transfer them to their self-custodied wallet or decentralized trading venue.”