Binance is preparing to acquire a stake in a startup Swipe to issue its own payment cards Binance is preparing to close a deal to acquire a majority stake in a cryptocurrency startup Swipe.io, writes The Block. This step will contribute to the implementation of the exchange's plan to issue its own payment cards.

Binance Prepares to Acquire Stake in Swipe Startup to Issue Its Own Payment Cards

Binance is preparing to close a deal to acquire a majority stake in a cryptocurrency startup Swipe.io, writes The Block. This step will contribute to the implementation of the exchange's plan to issue its own payment cards..

It is assumed that publicly about the deal may be announced this week. Binance spokesman declined to comment.

Information that Binance is going to release its card appeared in March. The company then confirmed that it is indeed working on the launch of the Binance Card, which "will be able to do everything that regular payment cards, and much more.".

Swipe.io provides a multi-currency crypto wallet and debit cards in the Visa system with the ability to convert digital currencies into traditional ones. The cards are issued by Contis Financial Services Ltd, a Visa network licensed by the UK Financial Conduct Authority.

The Swipe (SXP) token is up 18% amid today's announcement. It is currently the 132nd asset in terms of market capitalization.

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