Binance to Buy Major Stake in Swipe.io for Crypto Card | News

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Binance is about to buy big stake in a cryptocurrency wallet app & a crypto-to-fiat funded Visa debit card service called Swipe.io, The Block has learned.

The deal will reportedly simplify the exchange’s plan for its own payments card.

It is expected that Binance will reveal its plans later this week.

Earlier this year, the exchange announced plans to roll out its own crypto-focused card called Binance Card.

The cryptocurrency exchange said in March the card will work just like a regular debit card issued by a bank. The card can also be top-upped with funds through the Binance Card App in the form of bitcoin (EXANTE: Bitcoin) or binance coin (BNB).

However, with acquisition of Swipe.io, Binance most likely will expand basket of cryptocurrencies for top-up.

iHodl previously reported that Binance intends to launch a new trading platform in the UK this summer.

The new platform will focus on institutional and retail investors interested in buying and selling cryptos with pounds and euros. To speed up the payment process, the platform will reportedly be compatible with several solutions such as Faster Payments and SEPA.

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