1inch Partners Mercuryo, Enables Fiat for DeFi

1inch, one of the famous aggregators of the decentralized exchange, has inked an agreement with the international payment network Mercuryo in a bid to provide its users with a seamless way to open up the market towards greater adoption.

The co-founder of the network, Sergej Kunz, said that because of the complicated crypto buying and depositing process, many investors are potentially discouraged from getting into the decentralized space. He added, 

The integration between 1inch and Mercuryo offers everyone a user-friendly way to enter the space, buy crypto with fiat and begin trading or securely hold their assets.

While commenting on the new development, the company’s CEO Petr Kozyakov argued that given the fast-growing pace of the decentralized space, it is quite hard to ignore it. He further added that the network had seen a rising demand for fiat onramp solutions for DeFi enthusiasts.

The company recently remained in the headlines following its agreement with Polygon, which gave its users higher throughput and opened new liquidation sources. Last month, the firm also launched its mobile application on the Apple app store, allowing its users to swap tokens on their devices.

Despite the continuous downfall of the crypto market, the decentralized market has been recording significant growth, with the latest figures suggesting that the sector accounts for $126 billion locked. Interestingly, earlier this month, the number peaked at $160 billion.

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