Nimiq Launches ‘OASIS’ Atomic Swaps Between Crypto and Fiat In Partnership With TEN31 Bank

Crypto has just become more instant, with fiat-to-crypto exchanges now available.

Nimiq Oasis, together with German TEN31 Bank, allows for these exchanges, using SEPA transfers, from any European bank that allows instant transactions.

According to a press release detailing the launch, this is “designed to provide a secure and decentralized experience for its users, Nimiq built Oasis to be the perfect non-custodial bridge between fiat and crypto.”

Launched in 2017, Nimiq was designed to improve blockchain’s ease of use and accessibility. Philipp von Styp-Rekowsky, tech lead and co-founder of Nimiq, discussed their ambition.

He said: “We started the Nimiq project to make cryptocurrency accessible, usable and secure for everyone. It was clear to us that without a technology with which the new cryptocurrencies could easily be bought, sold or exchanged, there would be no mass market. With Nimiq Oasis, we have now finally overcome this barrier.”

Matthias von Hauff, CEO of TEN31 Bank, echoed this enthusiasm. He said: “OASIS is a revolution in trading with cryptocurrencies. With this project, we have come a lot closer to our goal of making trading with cryptocurrencies easy and offering everyone involved real added value.”

One of the main advantages of this development is the possibility of exchanging crypto for fiat without having to install software or register. However, Nimiq Oasis does charge a 1.25% fee per transaction and is currently only available for Nimiq Wallet users in Europe.

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