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Binance, the world’s largest cryptocurrency exchange, Announce On Thursday, it will acquire the remaining outstanding shares of Swipe, a well-known cryptocurrency Visa card provider. After the acquisition is complete, Binance users will be able to use their tokens in more than 70 million locations around the world.
On July 6, 2020, Binance initially announced the purchase of one Swipe’s majority stake, Pointed out that the new cooperation will help to further promote the adoption of cryptocurrencies by bridging fiat currencies and digital assets. Binance’s acquisition of Swipe will enable it to compete with other retail cryptocurrency providers (such as PayPal and Mastercard) that provide similar cryptocurrency-related services.
According to sources, Swipe has been identified as Binance’s card project manager and technology platform. Swipe also cooperates with important partners to issue cards in authorized regions and markets.
Binance confirmed that, once the acquisition is completed, Swipe’s current CEO Joselito Lizarondo will step down.
Although Binance has Involved in regulatory disputes This year, it did not prevent the company from expanding its influence through new acquisitions and expansion of services into new markets. recent, Cryptocurrency exchange approved Obtained the in-principle license of the Central Bank of Bahrain as a crypto asset service provider and the license of cryptocurrency financing for Binance Canada Capital Market in Canada.
related: Binance launches BNB Auto-Burn to replace quarterly burn agreement
In November, Binance CEO Changpeng Zhao revealed in a conversation with French Minister Cédric O that the exchange is Establish a 115 million dollar plan Increase blockchain and cryptocurrency technologies in France and Europe. The cryptocurrency exchange recently partnered with the Dubai World Trade Center to help the region develop into a global cryptocurrency trading center.
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