Binance, the world’s largest cryptocurrency exchange, announced Thursday that it will acquire the remaining outstanding shares of Swipe, a leading Visa (NYSE 🙂 card provider. Binance users will be able to spend their holdings at more than 70 million merchants and establishments around the world as a result of the acquisition.
On July 6, 2020, Binance initially announced the purchase of a majority stake in Swipe, stating that the new collaboration would help further advance cryptocurrency adoption by connecting fiat and digital assets. Binance’s acquisition of Swipe will allow it to compete with other retail cryptocurrency providers such as PayPal (NASDAQ 🙂 and Mastercard (NYSE :).
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According to the news, Swipe has been identified as the manager of Binance’s technology platform and card program. The company also works with key partners to issue cards in authorized markets and areas.
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