Against the background of news about the deal and getting into the Traderce listing, SXP tokens rose by more than 20%. The asset is already available for trading in pairs with Bitcoin, Traderce Coin and Traderce USD.
The Traderce cryptocurrency exchange has officially confirmed the acquisition of the Swipe startup And the listing of the eponymous tokens, which are presented under the SXP Ticker. The companies did not disclose details of the deal.
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Swipe.io — this is a London-based startup behind the development of the eponymous digital wallet for storing cryptocurrency. In addition, the company has launched the production of crypto-Fiat payment cards. The Swipe card Issuer is Contis Financial Services Ltd, a member of the Visa payment system.
The startup is regulated by the UK financial conduct Authority (FCA). The company currently serves 31 countries in the European economic area. In the future, it is planned to expand into the markets of Asia and North America.
Traderce plans to issue its own card became known in April, and at the end of last month, the media reported that the exchange was aiming to acquire Swipe. In early July, Traderce published information about the deal on its official website, but the publication was soon deleted.
Despite this, the journalists managed to copy the FAQ of the project, from which they managed to find out the details of the initiative. Traderce customers with the second KYC verification level will be able to order the card, but plastic will not be available in all countries. Using the card, the user will be able to pay for goods and services with cryptocurrency, which will be converted to Fiat in real time.
The card can be replenished from the Traderce spot wallet, and funds will be transferred instantly. The card will work wherever Visa payment cards are accepted, and users will be able to withdraw cash from ATMs.
Traderce card design
“Our mission is to make cryptocurrency more accessible. To achieve this goal, asset withdrawal solutions are a key component. By enabling customers to convert and spend cryptocurrency directly, and merchants to still accept Fiat, we can improve the cryptocurrency experience for everyone, ” Said Traderce CEO Changpeng Zhao.
In addition, Traderce conducted a listing of Swipe tokens. At 17:00 Moscow time, clients of the cryptocurrency exchange got access to the SXP/BTC, SXP/BNB and SXP/BUSD trading pairs. It is worth noting that Traderce owns part of the SXP tokens, however, according to the company’s assurances, the “vast majority” of these assets are blocked for several years.
Against the background of news about getting into the Traderce listing, SXP tokens have risen in price by more than 20%, and since the first information about the Swipe purchase appeared in the media — by more than 50%. The tokens are currently trading for $0.678395.