Coindirect announces fiat-to-Dai transactions in European and African markets

Buy Bitcoin

Leading African cryptocurrency exchange Coindirect has announced that it now fully supports MakerDao’s Dai stablecoin.

The African exchange is one of the first exchanges to offer direct transactions from national fiat currency to Dai and Dai to fiat. As the stablecoin is an Ethereum-backed token, many other platforms offer the exchange of Eth-to-Dai but do not process fiat-to-Dai transactions.

Coindirect, which currently provides the biggest cryptocurrency offering in Africa with over 40 tokens available on the platform, was recently announced as the number one cryptocurrency exchange in Africa.

Earlier this year, Coindirect raised over €1 million in its seed round led by Concentric, Blockchain.com, and MakerDao. Since the announcement, Coindirect has launched a Euro wallet offering Euro-to-crypto payments for users residing in Austria, Belgium, Cyprus, Germany, Estonia, Spain, Finland, France, Greece, Ireland, Italy, Lithuania, Luxembourg, Latvia, Malta, Netherlands, Portugal, Slovenia, Slovakia and Denmark.

Rune Christensen, CEO and co-founder of MakerDAO commented:

Maker believes the blockchain has the power to create an inclusive platform for economic empowermentWorking with Coindirect to help people purchase and trade cryptocurrencies with their local currency is one step closer to providing people around the world with equal access to the global financial marketplace.”

Related Articles

Binance and CZ fight back with a motion of dismissal

Following the lawsuits against Binance from the SEC, the exchange and its CEO have filed a motion of dismissal.

Mt Gox delays payments even further

Mt Gox has delayed the deadline to reimburse investors yet again, marking another year in a decade long delay.

USDC stablecoin launched on Polkadot Asset Hub

Circle has announced that USD Coin will be launched on the blockchain, extending USDCs presence in the ecosystem.

US authorities to halt Central Bank Digital Currency

Lawmakers in the United States have made moves to impede the development and launch of a central bank digital currency (CBDC) in the...

See All