Binance’s Swipe Acquisition Confirmed: The Exchange Pushes Mass Crypto Adoption
A few days ago, we were reveling that the crypto exchange Binance was getting ready to make some important moves in the crypto space.
These moves were essential for pushing mainstream crypto adoption and, as you probably know by now, the mass crypto and blockchain adoption is one of the crypto industry’s main goals these days.
A lot of moves have been made in the crypto space in order to push adoption and things continue on the right path towards the achievement of this goal.
Binance acquires Swipe
A few days ago we were reporting that Binance was working to finalize a deal to buy a majority stake in the digital currency payment platform Swipe.io.
This move was setting the stage for the crypto exchange to roll out its very own debit card, according to the latest reports.
— Binance (@binance) July 7, 2020
Back then, we reported that Binance could be making the massive announcement about the deal within a week, according to The Block.
Finally, the confirmation is here, according to the latest reports coming from the online pubcalition Decrypt.
It seems that the crypto exchange managed to complete the acquisition of Swipe – this is a multi-asset digital wallet and Visa debit card platform that allows users to pay with cryptos in stores all over the globe.
You can see how important this move is for the mass adoption of digital assets.
The significance of a card escapes many people. It allows people who wants to stay in crypto to stay in crypto, and merchants who need to accept fiat to do so. Bridging two parallel worlds.
No more sell crypto, withdraw fiat, then pay for card.
— CZ Binance (@cz_binance) July 7, 2020
“The two companies will work together to further mainstream adoption of cryptocurrencies by bridging the gap between fiat and digital assets, notably payments and purchases in cryptocurrency through traditional financial systems,” said the press release provided to Decrypt.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.