Uniswap supports purchasing cryptocurrencies with Robinhood Connect, new users will receive USDC for trading.

Decentralized exchange Uniswap announced on Monday that its users can now buy cryptocurrencies through Robinhood Connect, using payment methods such as funds from Robinhood accounts, debit/credit cards, or bank transfers. At the same time, the DEX is facing potential litigation pressure from the U.S. Securities and Exchange Commission according to the announcement.

Uniswap has received a Wells notice and the founder stated that they will fight against the SEC to the end

Uniswap Supports Robinhood Connect Service

The announcement shows that the Robinhood Connect feature will be available to Uniswap users this week, allowing users to easily trade cryptocurrencies by linking their Robinhood account funds, signing financial cards, or bank transfers through the feature.

Currently, Robinhood Connect is only available to users in the United States on the Uniswap App, becoming the fourth payment service provider to purchase cryptocurrencies on Uniswap, alongside Coinbase Pay, Stripe, and Moonpay.

At the same time, Uniswap is offering benefits to users who use the Robinhood Connect service for the first time on the Uniswap APP, purchasing at least $10 worth of cryptocurrencies, and will receive $10 worth of USDC in their Robinhood account.

Robinhood Expands Connect Feature

Since the launch of Robinhood Connect in April last year, Robinhood has been expanding the service scope of the feature.

In February this year, Robinhood announced a partnership with the well-known wallet MetaMask to integrate purchasing and transfer functions for MetaMask and Robinhood Connect, providing users with more diverse options for operating encrypted assets and enhancing user experience.

Collaborating with online broker Robinhood, purchasing encrypted assets in the APP directly into the MetaMask wallet

At the same time, Robinhood Connect also seeks to meet user needs and last week added four new cryptocurrencies for New York users to trade.

Uniswap Under SEC Scrutiny

However, on the other hand, Uniswap received a Wells Notice from the SEC two weeks ago, similar to the notice received by the U.S. exchange Coinbase, which may face regulatory litigation for several years in the future.

Is the lawsuit between Uniswap and the SEC a foregone conclusion? Legal experts point out potential reasons for SEC's defeat

In response, Uniswap seems to have quietly raised front-end transaction fees and expanded the range of trading pairs to address the potential risk of litigation costs.