Binance announces the acquisition of Swipe for its debit card launch.

The crypto exchange giant Binance has announced that it has acquired the wallet app Swipe.io that allows users to buy items via a Visa debit card.

One of the world’s leading crypto exchanges Binance today announced the completion of its acquisition of Swipe, the industry’s leading multi-asset digital wallet and Visa debit card platform that allows users to buy, sell, convert and spend crypto. Binance acquired Swipe at an undisclosed amount of sum. Binance and Swipe will work together to further mainstream crypto adoption by bridging the gap between fiat and digital assets, notably payments and purchases in cryptocurrency through traditional financial systems.

 

“Swipe’s goal is to further synchronize crypto with fiat currency-based transactions.”

The CEO of Swipe Joselito Lizarondo said that Swipe’s goal is to further synchronize crypto with fiat currency-based transactions. He added that partnering with Binance will place Swipe in the position to make cryptocurrencies more accessible for millions of users worldwide as the crypto exchange has a world-recognized track record and user base, alongside a team that constantly executes. The CEO of one of the world’s leading crypto exchanges Binance, Changpeng Zhao, said that in order to achieve the mission of making crypto more accessible to the masses, off-ramps are a key component as well. By giving users the ability to convert and spend crypto directly, and have merchants still seamlessly accept fiat, this will make the crypto experience much better for everyone, he added. 

 

Binance continues its global expansion. 

Binance has been on an acquisition spree from the last couple of years and is continuing its global expansion. As reported earlier, Binance revealed that it had partnered with Etana Custody that would allow the exchange to introduce gateway for 15 new fiat currencies. The founder and the CEO of Binance Zangpeng Zhao said that their platform is committed to furthering global crypto adoption by launching multiple fiat-to-digital assets gateways. Crypto exchange’s fiat gateways cover over 170 countries and regions globally, and are continuing to add more to make crypto more available across countries, he added. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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