Thursday, January 20, 2022
Home Crypto News Market Swipe (SXP) Token Price Up 30% After Binance Said They Will Acquire...

Swipe (SXP) Token Price Up 30% After Binance Said They Will Acquire Remaining Outstanding Shares of Swipe

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Binance is looking to buy all remaining shares of Swipe.



On Thursday, Binance announced that the exchange will acquire the remaining outstanding shares of Swipe, the company that brings cryptocurrency to commerce and standard banking.

Binance wrote in its official blog post:

“In July 2020, Binance acquired a majority stake in Swipe with the goal to further mainstream adoption of cryptocurrencies by bridging the gap between fiat and digital assets, notably payments and purchases in cryptocurrencies through traditional financial systems. Binance and Swipe work with regulated and licensed entities to issue Visa cards, with Swipe acting as Binance’s card program manager and technology platform. Swipe also works with strategic partners to issue cards in permitted regions and markets.”

Binance further said that as soon as the purchase of the remaining outstanding shares gets completed, Swipe CEO Joselito Lizarondo will announce retirement and leave. Swipe (SXP) is a platform that forms a bridge between the fiat and cryptocurrency worlds with its API that is designed to create global payment cards powered by its native SXP token.

In response to this news, Swipe (SXP) token price skyrocketed 31% to $2.08, with a 24-hour trading volume of $1,202,739,120 USD, 1247.04% up from the previous trading session. Swipe is currently the 156th biggest cryptocurrency in the world, with a live market cap of $400,487,850.43.

sxp token price
image source: coinmarketcap.com

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Zabi
Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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