Swapper Finance, in collaboration with Mastercard and Chainlink, has launched a Direct Deposit feature allowing direct purchases on decentralized exchanges using Mastercard cards, marking a significant fintech integration.
This launch could expand DeFi access to over 3.5 billion Mastercard users, potentially transforming the method of acquiring cryptocurrencies and influencing financial landscapes globally.
Chainlink's Role in Pioneer Feature Prompts Industry Shift
Swapper Finance announced its partnership with Mastercard and Chainlink, introducing a new direct deposit feature that allows users to buy on-chain assets using Mastercard cards. This development is a first, letting cardholders purchase crypto directly on decentralized exchanges (DEXs) like Uniswap.
The new feature aims to bridge the gap between traditional finance and DeFi by utilizing Mastercard’s global network and fraud protection measures. This collaboration could accelerate the transition of billions into the on-chain economy, enhancing Web3 adoption.
This is the onboarding layer we have always deemed necessary for the industry. Direct Deposits represents the culmination of years of work across multiple ecosystems. Built on Chainlink CRE and combined with Mastercard’s global payment networks, this is the first truly unified onboarding layer for Web3.
Market Data and Insights
Swapper Finance's direct deposit feature marks the first time traditional bank cards have been used to directly purchase on-chain assets, potentially revolutionizing access to DeFi applications globally.
CoinMarketCap reports the current price of Chainlink (LINK) is $14.26, with a market cap of approximately $9.94 billion. The 24-hour trading volume is at $719.28 million, reflecting a 4.65% increase in the last 24 hours. Despite price fluctuations over the past months, LINK remains a significant player in the market with a circulating supply of 696.85 million tokens.
Coincu's research team highlights that this integration could prompt shifts in financial systems by facilitating greater regulatory and technological adaptation within DeFi. In particular, it may enhance the user experience by simplifying crypto transactions and broadening access to decentralized financial services for Mastercard users.