Binance Partners with Swipe to Issue Its Crypto Card

Binance is partnering with Swipe for its upcoming crypto debit card, a cached-version of the FAQ page of the Binance Card revealed.

Though The Block earlier reported the possibility of the partnership between the two, neither the crypto exchange nor the debit card issuer did not confirm anything officially.

However, a recent accidental update on its website has confirmed the partnership between the two - Binance had already taken down the webpage, but it has already been cached.

“Binance has partnered with Swipe to provide a Card platform for Binance users,” the cached-version of the Binance Card website read.

Binance, which operates one of the largest digital currency exchange, first unveiled its crypto debit card last March, that provides a fiat gateway allowing its users to pay for goods and services using stored Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

The exchange advertised its card similar to any other bank-issued cards with some additional features. The card can also be used globally, without any geo-restriction. Binance also opened pre-registration for the card for $15.

Swipe, a Philippine-headquartered company with operations in the United Kingdom and Estonia, also offers its own crypto debit card supporting over 30 digital currencies. It issues its card via Contis Financial Services Ltd, a Visa member that is licensed by the UK Financial Conduct Authority.

Another major crypto industry investment?

The Block also reported on the possibility of Binance’s investment in Swipe, taking a majority stake in the company. This is also not confirmed by any of the companies.

With Swipe partnership, Binance might launch a white-label crypto card.

Meanwhile, Swipe partnered with Google Pay and Samsung to add its digital currency Visa debit card on its Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term platform.

Established as a cryptocurrency exchange, Binance is now becoming an all-round player in the crypto industry offering services from mining pools to lending.