Breaking: Binance to acquire outstanding shares of crypto visa card issuer Swipe

Binance, the world’s leading crypto exchange by trading volume announced they would be acquiring remaining outstanding shares of the leading crypto Visa card issuer Swipe. Swipe allows customers to spend their cryptocurrencies at over 70 million locations around the globe, and its acquisition would help Binance compete with the likes of retail crypto players such as Paypal and Mastercard that offer similar crypto services.
Binance first acquired a majority stake in Swipe in July 2020 in hopes of bridging the gap between Fiat and the crypto market. In its official announcement on December 30, Binance said:
“Binance is to acquire the remaining outstanding shares of Swipe, the industry’s leading cryptocurrency Visa card issuing platform. Binance and Swipe work with regulated and licensed entities to issue Visa cards, with Swipe acting as Binance’s card program manager and technology platform. Swipe also works with strategic partners to issue cards in permitted regions and markets.”
Binance accelerates new ventures
2021 has proven to be a mixed year for Binance given the string of regulatory warnings and actions throughout this year. However, that hasn’t deterred the biggest crypto exchange from expanding its footprints via new acquisitions and regulatory clearance from various other nations. Most recently, the exchange has got an in-principle license to become a crypto asset service provider in Bahrain. It also managed to get an MSB license in Canada allowing it offers various crypto services.
Earlier this month, the exchange announced its new partnership with Indonesia’s largest telecom firm to open a crypto hub in the nation. The crypto exchange also signed an agreement with the Dubai World Trade Center to help them develop the region as a leading crypto hub. The American independent venture is called Binance.US is also set to close one of the biggest crypto funding round as confirmed by the CEO Changpeng Zhao that could see the platform raise a couple of hundred million.
- Breaking: $8 Trillion Morgan Stanley Opens Bitcoin Investments to All Wealth Clients
- Bitget Strengthens On-Chain Rewards Push With Early Hunter Airdrop Launch
- Fed’s Chris Waller Reiterates Support for Rate Cuts but Urges Caution On Pace
- Tom Lee’s Bitmine Immersion (BMNR) Adds Another $103M ETH to its Ethereum Stash
- Bitcoin Price Flashes Top Signal After Rejection At $125K
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
- Dogecoin Price Prediction as $23M Leaves Exchanges—Is the Parabolic Phase Beginning?
- Pi Network Price Collapses as Analyst Proposes Turnaround Tweaks
- Solana (SOL) Price Prediction: Analyst Eyes $1,300 as SOL DAT Company Plans 5% Supply Acquisition
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?