Just recently, a digital multi-asset wallet and debit card platform for a visa named Swipe has been acquired by the well-known crypto exchange Binance. The card allows the users to pay the stores worldwide in the form of cryptocurrency.
The main anthem behind this initiative is to fill in the void and bridge the gap between the digital and fiat currencies. And to let the users use cryptocurrencies for their payments through the financial system which is been used traditionally for over years.
Swipe users will get a big hit to their usage as according to the reports, the users can purchase the cryptocurrencies via their app itself. The crypto stored within the app that users will purchase will be automatically converted to fiat currencies.
The user can use his fiat currency to meet their daily transactions. It looks like that through this, cryptocurrencies will be more accessible to the masses. To handover, the process of converting the crypto into fiat asset by users themselves and to let the merchants use this fiat currency will make the crypto experience much better for the public.
The broad level of Swipe
At the moment of writing, swipe is providing its services to more than 31 countries worldwide. The platform allows its customers to convert major fiat currencies i.e. US dollars, sterling pounds, and Euros. The main head location where the swipe is on the verge of success is the European Union.
The platform has already listed the digital token of Binance BNB on its platform. In the same time, Binance has also showcased the Swipe’s SXP on its website.
Back in the days, Changpeng Zhao the CEO of Binance announced that they are planning to launch their debit card. The card will help the users to buy groceries and other services using the card. But somehow, the plan did not go through as it was planned by the company official as according to the CEO, they were having difficulties implementing the new cards. It looks like by merging with Swipe, it should help fix.