Uniswap is reportedly exploring tie-ups with large financial institutions such as PayPal, Robinhood, E*Trade, Stripe and Paxos. The largest decentralized exchange on Ethereum is said to look to build partnerships on consumer finance and DeFi applications.
In a talk at the EthCC conference in Paris, Uniswap’s growth lead, Ashleigh Schap, said Uniswap is in talks with well-known FinTech companies. However, Uniswap founder Hayden Adams tweeted that the video of that talk was deleted at Uniswap’s request.
“We thought [it] could be interpreted to suggest we have relationships that we don’t,” said Adams, adding that Uniswap Labs has not partnered with the companies mentioned in the EthCC talk.
“We’re trying to put Uniswap and the rest of DeFi right there in those applications so that we can bring the dream of open, 100% uptime liquidity to the whole world,” Schap said. “PayPal wants to talk to us, E*Trade wants to talk to us, Stripe wants to talk to us.”
According to Schap’s presentation, Uniswap is looking to build partnerships with firms like Fireblocks, and Paxos — which developed PayPal’s crypto trading services.
Specifically, on the potential partnership with Robinhood, Schap said Uniswap has had discussion with Robinhood. “One of the cool things that we’ve actually been talking about with them is a way to use Uniswap to automatically settle a trade for example right when it happens with the user,” she said during a panel.
Uniswap Meets Robinhood Crypto
The discussion centered around whether Uniswap can provide liquidity on Robinhood alongside centralized market makers, a source told The Block. Popular crypto-friendly investing app Robinhood is heading to its much-anticipated IPO.
On the other hand, Uniswap creator Hayden Adams and two Paradigm developers have proposed a new type of market maker system. The Time-Weighted Average Market Maker, or TWAMM, is designed for decentralized exchanges executing large trades on Ethereum.
The core idea is that it enables large trades to be split up into many smaller ones, and executed over a period of time. The design will gradually write off gas costs across these small orders, allowing large trades to be made more efficiently within DeFi.
Another interesting news in Hong Kong’s crypto landscape is “hi Dollar” has passed the smart contract audit from CertiK. “Hi Dollar” is the native cryptocurrency for the Hong Kong-based crypto reward platform hi.
Hi claims it now has over 650,000 members. It is launching a digital wallet allowing members to make payments via social messengers. Primary function of the hi Dollar is to drive utility within the hi ecosystem, according to the company. “This audit was conducted to ensure the foundational pillars of compliance and security are firmly in place within the token.”
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