Binance-owned Swipe receives green light to enter the US market officially announcing today, which made the SXP token price to increase as we are reading more in the upcoming cryptocurrency news.
Swipe receives green light to venture the US market after the approval from the regulators according to a tweet on Tuesday as the crypto wallet and card provider announced. According to the announcement, the Binance-owned platform stated that the wallet and debit card will be now available in the United States following the launch and the revelation of the banking partners.
Swipe’s entry into the US market shows the expansion plans of the company which has been restricted so far. The card provider offers services in more than 30 countries including France, Germany, and Spain. Swipe offers fast fiat-to-crypto conversions via the Visa payment network and also allows users to purchase crypto tokens from the inside of the wallet app. Commenting on the likely implications on the expansion, the CEO of Swipe Joselito Lizarondo said:
“We are about to open @SwipeWallet to potentially over 200 million adults in the #USA. Do the math. $SXP.”
Swipe is expanding operations in the United States and this can be considered as a testament to the continuous growth of the crypto card debit sector. This sector saw different platforms trying to dominate it with the likes of Coinbase and Crypto.com. The crypto startup Fold joined a VISA program back in April, to launch a card that offers Bitcoin rewards. With more platforms and companies looking to explore the crypto card arena, more users will be exposed which could only incentivize the retail adoption of cryptocurrencies.
Following the release of the announcement, the SXP token price saw a huge 20% price gain as trading volume increased dramatically according to the data from Coingecko. The spikes in price are mostly because of the slew of positive developments that were centered around the project. The SXP is up by more than 60% in the past 30 days but today, the entire crypto market crashed and lost a huge chunk of its capitalization. SXP was no exception as the price tumbled from above $4 to around $2.84, recovering to a current trading price of $3.3.
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