Binance Partners with Swipe to Issue Its Crypto Card

The exchange is reportedly taking a majority stake in the card issuer.

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.

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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.

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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 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.

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