Through a partnership with fintech platform Mercuryo, the DeFi platform WOO X project has added functionality for fiat payments.
WOO will be giving such services for the first time to its clients as part of its effort to attract more users by providing more payment choices. However, KYC is also required for fiat payments.
The decision also comes at a tumultuous time for the DeFi space, which is heavily influenced by crypto market volatility.
WOO users can now purchase crypto with credit card
Only MasterCard and Visa cardholders would be allowed to acquire digital assets via the marketplace at first, according to WOO. Users can purchase USDT by paying USD, EUR, GBP, and BRL. More vendors and payment system for both types of currencies are being added to the platform.
Future updates, on the other hand, will include more support for direct bank transfers and other features. The platform believes that by doing so, they would be able to attract more clients from all around the world.
Binance invested $12 million in WOO earlier this year, which was used to develop more DeFi products.
Over 120 blockchain projects and exchanges are supported by Mercuryo. Mercuryo integrated with Binance, the world’s largest cryptocurrency exchange, in 2020. Binance users were able to purchase major crypto coins such as Bitcoin, Ethereum, and Tether using their bank cards thanks to this partnership.
GMT got support from WOO
Meanwhile, the native token of the WOO Network rose over 6% from near two-month lows. At the time of writing, the WOO token was trading at an average price of $0.423. With a market capitalization of over $442 million, the WOO token is the 129th largest cryptocurrency.
Also, the WOO network also announced that users of the Solana (SOL)-based move-to-earn app STEPN will be able to send GMT tokens directly to Solana via the platform.
In the last 30 days, the STEPN token has seen the most growth. At the time of writing, the GMT coin was trading at an average price of $3.35. The token has increased by more than 225% in the last 30 days. In the last 60 days, it has risen by a whopping 2040%.
