Swipe (SXP) Expands to the U.S. Market

Swipe (SXP) Expands to the U.S. Market

August 19, 2020

Swipe, the renowned crypto wallet and card provider, has revealed in a tweet on Tuesday, August 18th, that it got green lights to launch its services in the United States.

As per the announcement, the Binance-owned platform said that its wallet and debit card would be accessible in the U.S. after the release and the reveal of its banking partners. 

Swipe’s Expansion to the U.S.

Swipe’s entry into the United States market marks the expansion of the company’s operations, which has mainly been obstructed to the U.S.. The crypto card company offers services in 31 other countries across the world, such as Spain, Germany, and France.

Swipe provides users with instant fiat-to-crypto conversions through the Visa payment network. The platform also enables users to buy crypto tokens from inside the Swipe wallet application.

Talking about the probable implications of the company’s U.S. expansion, Swipe CEO Joselito Lizarondo tweeted: “We are about to open @SwipeWallet to potentially over 200 million adults in the #USA. Do the math. $SXP.”

Swipe being able to operate in the U.S. is proof of the continuous growth of the crypto debit card industry. The sector has seen numerous platforms trying to lead, including Crypto.com and Coinbase. Back in April, cryptocurrency startup Fold partnered with a Visa program to launch a card that offers Bitcoin rewards.

With numerous platforms and companies trying to explore the crypto cards sector, more users will find out about the crypto industry, which could simulate the retail adoption of cryptocurrencies.

SXP Price Responded

After the release of the announcement, SXP token price grew by 20 percent as trading volume increased significantly as per data from crypto market monitoring service Coingecko. Tuesday’s increase is the most recent of such sudden upward movement by the token during the last few weeks.

​These price increases are mainly because of a stack of positive developments focused on the project, which made SXP go up over 60 percent in the last 30 days.

Coins Mentioned

Companies Mentioned

Coinbase is a digital currency exchange headquartered in San Francisco, California.

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