Popular cryptocurrency trading platform Binance has just confirmed it has partnered with Swipe to issue its own crypto debit card, according to a publication made on the FAQ section of Binance's website that has been removed.
However, all information about the partnership can be found in the cached version of the Binance Card FAQ:
"Binance has partnered with Swipe to provide a Card platform for Binance users."
iHodl reported just two days ago Binance was exploring the possibility of acquiring a majority stake in Swipe with the aim of issuing its own crypto card.
According to the information included in the page removed by Binance, the Binance Card will allow its users to convert cryptos to fiat money "in real time,” which will allow them to use it in merchants all over the world.
It looks like users will be able to transfer funds to their card wallet based on some daily limits. These transfers will be instantaneous and the funds will immediately be available for use.
In addition, the card will work worldwide and will allow its owners to withdraw cash from any ATM.
The price of the Swipe token (SXP) jumped by 22% to $0.64 after the news was known.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.