Binance Partners with Swipe for Crypto Card

The crypto community has welcomed great thanks to a new move by Binance that will make crypto payments much easier and more familiar than ever before. Thanks to the partnership between the huge crypto exchange and Swipe, users of digital currencies may soon be able to use a crypto credit card for their payments.

Rumors of a potential partnership between Binance and Swipe have been floating around for quite some time. It was initially anticipated that Binance was planning to buy a majority stake in the crypto startup. While the page that details the partnership has since been taken down, there is enough evidence suggesting that Binance is well on its ways in disrupting the payment card ecosystem.

The first time that Binance unveiled its crypto debit card was back in March. According to the company, the move was meant to give crypto users a fiat gateway through which they pay for goods and services. The hype seemed to have cooled off but that is perhaps because the company was working on getting a partner to push that particular project to even greater heights.

Thankfully, the goal of the crypto card is not just to cater to existing crypto users – it is also quite easy to see that it is geared towards appealing to non-crypto users as well. The card has been advertised as being very similar to other bank-issued cards which means that it will certainly be just as easier to use. Moreover, preregistration for the card cost as a little as $15 which may have been quite the incentive for more adoption of crypto.

The Rise of Crypto Cards

Crypto card usage is not even close to peaking, at least not yet. This is very understandable considering the massive interest that both individuals and companies have shown towards crypto. Even PayPal has reportedly been considering direct sales of crypto and Visa may also be pursuing similar ambitions. These alone are enough to prove that perhaps its time to take crypto to the next level. That said, crypto cards are going to be a huge part of the next phase of the payments revolution.

We can, however, not overlook the issues that have already cropped up in the space. For instance, crypto debit cards that were issued by Wirecard stopped working after the U.K.’s Financial Conduct Authority (FCA) suspended Wirecard Card Solutions (WCS. This is a very big deal especially because of the picture it paints of the gaming industry. Still, it is a great opportunity for the industry to learn and find ways to ensure more reliability. Maybe that is why Binance is so cautious about its next move.