There is nothing that could have stopped Binance, the main crypto exchange in the world, to fulfill its clients and their plans. Now announced the acquisition of Swipe which will give you the necessary tools for your plans.
Binance plans underway
Through a press release posted on his blog, Binance let his crypto community know that he would be completing the Swipe acquisition. This is a digital wallet that has a Visa debit card platform.
“The two companies will work together to promote the widespread adoption of cryptocurrencies by closing the gap between fiduciary and digital assets, particularly payments and purchases of cryptocurrencies through traditional financial systems.”, reads in Binance’s post.
Let’s remember that one of Binance’s missions is to make cryptocurrencies accessible to everyone and in very simple ways.
Therefore, the recent acquisition is in line with this objective because it will give the user “The ability to convert and spend crypto directly, and keep merchants continuing to accept fiat money seamlessly, will make the experience that much better for everyone.” express Changpeng Zhao, CEO of Binance.
However, Binance had had some problems implementing this solution and that is why the acquisition of Swipe is so successful.
“Swipe’s exceptional team has come a long way in advancing this mission and has been instrumental in the industry in closing the gap between trade and crypto. Only Swipe Wallet is unique and acts as a digital bank account for its users, providing access to traditional banking services.“Said Zhao, CEO of Binance.
Likewise, he made the news known through his Twitter, noting that: “People don’t realize the importance of a card … Two parallel worlds unite. You won’t have to sell your cryptocurrencies, withdraw funds, then pay with your card. ”
How does Swipe work?
What the platform does is convert your cryptocurrencies into fiat money when you go to make the purchase. In this way, users directly use their cryptocurrencies while merchants receive a certain Fiat currency.
Recall that, precisely this is what Binance wants to achieve and, therefore, it makes a lot of sense that they acquired this platform.
“… It supports a wide range of digital assets that allow them to remain in their native form until a point of sale / transaction occurs … making cryptocurrencies instantly spend in more than 50 million locations worldwide worldwide the world just by touching a few buttons and “swiping” a card “, Binance’s announcement explained.
Likewise, the Binance announcement states that Swipe is currently available in 31 countries within the European Union. In addition, it is issued by Contis Financial, a primary member of Visa.
Likewise, “Swipe supports fiduciary transactions in euros, pounds sterling, US dollars, Korean won, and Philippine pesos; and it will soon be launched in regions of Asia and North America. ”
As part of the union, the Swipe platform has included BNB, which implies that users will be able to “buy and sell BNB with their linked bank accounts”. Likewise, Binance added Swipe’s SXP token on its platform.