Binance is finalizing a deal to acquire a majority stake in crypto startup Swipe.io

According to The Block on June 30, Binance is finalizing a deal to acquire a majority stake in crypto startup Swipe.io. The move paves the way for the crypto exchange giant to move ahead with its plan for a branded payments card.

As reported in April, Binance has planed for a branded card were in the works. In the wake of that report, the exchange officially announced that its so-called Binance Card “does everything a regular payment card does, plus much more.” The Binance Card will be issued as a white-label product via Swipe,

The Binance Card does everything a regular payment card does, plus much more. It works like a regular debit card issued by your bank – which, in this case, is your Binance.com account. You simply top-up your card with funds through the Binance Card App in the form of Bitcoin or BNB, and you’re ready to go. It’s as simple as transferring BNB from one wallet to another. Your card will then use this balance for your card payments and automatically deduct all expenses from the balance every time you make payment. The Binance Card will be accepted by more than 46 million merchants offline and online in 200 regions and territories, which makes shopping with crypto easier than ever before, according to the Binance’s blog.

According to its whitepaper, Swipe Wallet is a Digital Application that enables users to buy, sell, and pay with all supported digital currencies. Swipe Wallet is headquartered in London, United Kingdom with locations in the United StatesEstonia, and Philippines with a mission to enable users around the world access to financial services tied into digital currencies.

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