SPX Crypto token up 30% after news.
Crypto exchange Binance will acquire the remaining stake from startup Swipe, the company said in a press release.
- As a reminder, Binance confirmed the purchase of the London-based crypto wallet developer in July 2020.
- Startup Swipe.io has developed a digital wallet for storing cryptocurrencies. In addition, the company has launched the issuance of crypto-fiat payment cards. The Swipe card issuer is Contis Financial Services Ltd, a member of the Visa payment system. The company currently serves 70 countries.
- After joining the crypto exchange group, Swipe managed the Binance card issuance program.
- The goal of the deal, Binance says is further adoption of cryptocurrencies by building bridges between fiat and digital assets. Crypto exchanges are seeking to expand the adoption of cryptocurrencies as a means of payment, according to a press release.
- The startup’s CEO, Joselito Lizarondo, will be leaving his position and Binance, according to the exchange.
- Against the backdrop of the news, the price of the Swipe token – SPX – increased by 30%.
We will remind you, last year it was also reported that Binance will launch a crypto card in Russia.
Read also: Binance will be able to operate officially in Bahrain and Canada.