Binance, which bought the majority of Swipe shares last year, announced that it will buy other shares of the company.
The world’s leading digital asset exchange has agreed to buy all shares of Swipe. After the deal was completed, the CEO of the company, J. oselito Lizarondo will resign from his post and leave Binance.
https://twitter. com/binance/status/1476512263133863936
The following statements were used in the statement:
“Binance acquires the remaining stake in Swipe, the industry-leading cryptocurrency Visa card issuance platform that allows users to instantly spend cryptocurrencies in more than 70 million locations worldwide. In July 2020, Binance acquired a majority stake in Swipe with the aim of further promoting the mainstream adoption of cryptocurrencies. Binance and Swipe work with regulated licensed entities to issue Visa cards, and Swipe acts as Binance’s card program manager and technology platform. Swipe also works with strategic partners to issue cards in permitted regions and markets. Following the completion of the acquisition of the remaining shares, Swipe CEO Joselito Lizarondo will resign and leave Binance. ”
After the announcement, Swipe’s native token SXP rose 30% within minutes.
