Visa Cryptocurrency Partners

Binance Set To Acquire Swipe Shares, Its Crypto Visa Card Issuer |

Binance Set To Acquire Swipe Shares, Its Crypto Visa Card Issuer |
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Binance, the world’s most popular crypto exchange, has announced that it will acquire the remaining shares of the leading cryptocurrency Visa Card issuer, Swipe.

Customers using Binance can expect to spend their money at more than 70 million locations worldwide in the wake of the acquisition.

In addition, this will help Binance compete with popular retailers such as Paypal and Mastercard, which provide similar services for cryptocurrencies.

In its official announcement on December 30, Binance said:

Binance will acquire the remaining remaining shares of Swipe, the leading Visa card issuance platform in the cryptocurrency space. Binance and Swipe work with regulated entities that are licensed to issue Visa cards, with Swipe as the director of the Binance Card Program and Technology Platform. Swipe is also working with strategic partners to issue cards in permitted regions and markets.”

On July 6, 2021, Binance first announced that it was buying a major stake in Swipe and stated that the partnership would help boost cryptocurrency adoption through a bridge between digital and digital assets.

According to the latest report, Swipe has been identified as the director of Binance’s card program and technology platform. Swipe works with various credit card issuance partners in the market. Swipe CEO Joselito Lizarondo has confirmed that he will resign when the deal is complete.

Binance received a series of regulatory actions and warnings throughout 2021. However, this did not prevent the largest cryptocurrency exchange from expanding its reach by acquiring new business and obtaining approvals from other regulatory countries.

Recently, the exchange was granted the license in principle to offer crypto assets in Bahrain. It also obtained a finance license in Canada, which offers various services in the field of crypto.

The cryptocurrency exchange has also reached an agreement with the Dubai World Trade Center to help them develop the region into a major hub for cryptocurrency.

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