March 28, 2024

Binance buys Swipe start-up package to issue payment cards

Cryptocurrency exchange Binance is preparing to complete a deal to purchase a controlling stake in the startup Swipe.io.After that, the exchange will be able to issue its own payment cards.

According to The Block, the deal is stillkept secret, but the official announcement of the purchase should take place this week. Startup Swipe.io provides users with access to a cryptocurrency wallet and Visa debit cards with automatic conversion of cryptocurrencies into fiat money. The cards are issued by Contis Financial Services Ltd, a licensed UK regulator.

The Binance exchange has been looking for launch opportunities for a long timeown plastic cards. Plans to launch the Binance Card became known back in March, but Binance CEO Changpeng Zhao later said that the initiative had encountered some difficulties.

According to The Block, the acquisition of a controlling stake in Swipe will soon launch the Binance Card in the UK market and possibly throughout Europe.

</p></p>