About

Swipe ecosystem provides a large set of products and protocols to support decentralized finance. The main offering of Swipe is multi-currency crypto wallet app as well as a crypto-to-fiat funded Visa debit card. The Swipe Visa Card is a prepaid card that allows users to hold fiat as well as cryptocurrencies. Also, the feature of the card is not just limited to its transactions, it lets the users enjoy several other features offered by the Swipe ecosystem. This entire ecosystem is powered by its token SXP. SXP is a utility token where the token holders are incentivized for holding and using SXP.

As of now the Swipe Visa Card is accepted at more than 60 million retail points across the world and is expected to grow in future. After Binance took over Swipe in 2020, Swipe has become the core engine of Binance overall eco-system.

Swipe launched the Solar Network. The Solar Blockchain operates on a Delegated Proof of Stake (DPoS) consensus mechanism. It features 53 block producers, selected by community voting, who play a critical role in securing the network, contributing to code updates, and participating in governance. These producers earn commissions, which are often shared with their voters.

History

Swipe.io, the founding company was started by Joselito Lizarondo in 2018. The early business of Swipe revolved around Swipe wallet and cryptocurrency card which is still the face of Swipe. It would let users make transactions of cryptocurrencies to buy/sell goods and services in real-time without the hassle of converting cryptocurrencies into fiat before the transactions. Swipe wallet would also let users pay for fiats with their cryptocurrencies directly within their wallet app.

Swipe gained major momentum after launching its cryptocurrency card and integration with Apple Pay and Samsung Pay in 2019. Although these features are not accessible to all the countries, this move was a big leap for Swipe as the integrations allowed Swipe to target users of two mobile giants Apple and Samsung. Swipe also did its integration with Google Pay in 2019 thus increasing its reach to all Android mobile users.

In March'20 Swipe acquired Spend.com. Spend. com lets its users spend their crypto to buy products. After acquisition Spend.com is also working with companies to rapidly build and scale financial products by bringing together modern core technology, blockchain architecture, and strategic banks.

In 2020, Swipe was acquired by Binance for an undisclosed amount in a private deal. After the acquisition from Binance, Swipe has been DeFi ecosystem powered by its utility token SXP. Swipe launched Swap, its first DeFi tool in 2020. Swipe Swap is a cross-chain automated market maker (AMM) that operates on Binance Smart Chain and Ethereum while powered by SXP tokens.

Swipe also launched SwipeFi in 2020. Swipe is a cross-chain interoperability protocol between the Binance chain and Ethereum. SwipeFi will act as a base proposed decentralized financial lending protocol launching on Binance Smart Chain. It will support various stablecoins and crypto assets to be deposited as collateral to earn interest or borrow against their collateral.

In Sept.'20 Swipe partnered with Marqeta to launch LendFi an Instant Visa® Card Platform for lending. This platform will allow Swipe and Binance Visa Cardholders to give borrowers access to instant liquidity to over-collateralized loans while being in complete control of the borrowing process.