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Binance Acquires Crypto Debit Card Provider Swipe for Undisclosed Sum
Binance said Tuesday the acquisition of Swipe, which is already available in 31 countries, could significantly improve crypto adoption globally.
Updated Sep 14, 2021, 9:00 a.m. Published Jul 7, 2020, 11:01 a.m. 1 min read
Exchange giant Binance has acquired crypto wallet app Swipe.io that allows users to purchase items via a Visa debit card.
- Swipe users can purchase cryptocurrencies from within the app and the debit cards automatically convert stored cryptocurrency into fiat currency, using the Visa payment network.
- Swipe is already available in 31 countries, mostly in the European Union, and currently supports transactions in major fiat currencies, including the U.S. dollar, euros and pound sterling.
- Binance, which has been adding fiat gateways for users all around the world, said Tuesday the acquisition could help boost crypto adoption.
- Swipe has now listed Binance's BNB token on its platform.
- The value of the deal was not disclosed.
- Binance announced in April it was beta launching a debit card; it's unclear if this has been provided through Swipe. CoinDesk has approached the exchange for comment.
See also: Binance Ordered to Halt Offering Derivatives Trading in Brazil
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