Home News Binance to finalize acquisition of Swipe, paving for CEO exit

Binance to finalize acquisition of Swipe, paving for CEO exit

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Binance, the world’s largest cryptocurrency exchange, announced on Thursday that it will purchase the remaining shares of Swipe, a popular crypto Visa card supplier. As a result of the deal, Binance users will be able to spend their currencies in more than 70 million locations worldwide.

Binance first announced the acquisition of a majority share in Swipe on July 6, 2020. Claiming that the new partnership will help to boost cryptocurrency adoption by linking fiat and digital assets. With the acquisition of Swipe, Binance will be able to compete with other retail cryptocurrency providers such as PayPal and Mastercard, who offer comparable cryptocurrency-related services.

Swipe has been named the card program manager and technology platform for Binance, according to the press. Swipe also works with a number of key partners to issue cards in certain zones and regions.

Joselito Lizarondo, Swipe’s current CEO, will step down after the deal completed, according to Binance.

Despite its engagement in regulatory turmoil this year, Binance has continued to extend its reach through fresh acquisitions and the expansion of its services to other markets. The crypto exchange recently granted an in-principle authorization. In order to operate as a crypto asset service provider by Bahrain’s central bank. As well as a cryptocurrency financing licence in Canada as Binance Canada Capital Market.

Binance CEO Changpeng Zhao disclosed in November that the exchange is launching a $115 million programme. In order to promote blockchain and cryptocurrency technologies in France and Europe during a chat with French Minister C├ędric O. The cryptocurrency exchange has announced a partnership with Dubai’s World Trade Center. In order to assist the region in becoming a global crypto trading hub.

Binance gets the green light from Canada and Bahrain

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