Exchange giant Binance has acquired crypto wallet app Swipe.io that allows users to purchase items via a Visa debit card.
- Swipe users can purchase cryptocurrencies from within the app and the debit cards automatically convert stored cryptocurrency into fiat currency, using the Visa payment network.
- Swipe is already available in 31 countries, mostly in the European Union, and currently supports transactions in major fiat currencies, including the U.S. dollar, euros and pound sterling.
- Binance, which has been adding fiat gateways for users all around the world, said Tuesday the acquisition could help boost crypto adoption.
- Swipe has now listed Binance's BNB token on its platform.
- The value of the deal was not disclosed.
- Binance announced in April it was beta launching a debit card; it's unclear if this has been provided through Swipe. CoinDesk has approached the exchange for comment.
See also: Binance Ordered to Halt Offering Derivatives Trading in Brazil