Dharma app developers connected API for buying cryptoassets from bank accounts

Support for operations of the automated calculation-valering center in the Defi Dharma app. 13 American states, which directly connects the application with bank accounts.

Support for the automated calculation-cliff center allows app users can directly buy crypto assets using money from bank accounts. When purchasing crypto assets from a bank account, a commission of 1.5%, and the maximum purchase size is limited $25 000 per week.

“Investing in DeFi has so far been a complex and highly technical process. Now it's easy - you just need to download the application and connect your bank account", – Dharma CEO Nadav Hollander said in a press release (Nadav Hollander).

Dharma adds the ability to purchase all crypto assets, available on Uniswap, while compensating gas fees for all users. To access the services of the automated settlement and clearing center, Dharma uses the API of the financial company Plaid, Hollander reported.

“We process transfers through an automated settlement and clearing center as part of a direct partnership with a well-known bank, working in the cryptocurrency industry", – Hollander noted, without disclosing the name of the bank.

Crypto asset purchases from bank accounts are available in the following US states: Arizona, California, Georgia, Massachusetts, Michigan, Montana, Pennsylvania, Texas, Virginia, Washington, New Hampshire, Wisconsin and Wyoming.

"Our goal is, to bridge the final gap between traditional and alternative markets", – Hollander said.

Recall, that Dharma Labs launched
decentralized lending platform in April 2019 of the year, after that, how attracted $7 Milln from large investors, including Coinbase Ventures. This summer, crypto-asset trading capabilities were added to the application..