Where Swipe (SXP) is Accepted Locally and Globally
SXP is the token powering Swipe that provides Card Payment Infrastructure for Cryptocurrencies, Digital assets, Commodities, NFT Tokens, Digital Assets, and Fiat Currencies. Being a project and token focused on connecting real-world commerce with the explosive crypto sphere, it’s accepted by businesses around the world as payment, from a premium artisan roasted coffee brand in Georgia to an Auckland, New Zealand-based hosting company.
Who accepts Swipe…
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
Should you buy Swipe?
Swipe powers a robust platform that enable businesses to create card programs for users to spend anything globally, according to their (not grammar-checked?) website, so this is a quite pragmatic blockchain venture. Binance, the largest crypto exchange in the world, thinks they might be a winner in the gold rush to build a bridge from the traditional payment processing world to the crypto world, as they acquired Swipe in 2020 for “an undisclosed sum.”
- All fees paid on the platform are paid in SXP, it will be predictably in demand as more businesses, big and small, around the world get on board with crypto payment processing.
- Swipe management, with a long-term outlook, regularly burns tokens (wildly, the CEO burned his founder’s supply — $200 million worth of SXP!) making it a definitely deflationary coin.
- Through some Defi wizardry, apparently, you can gain interest staking SXP in a non-custodial wallet.
My friend Satoshi Aoki is a big fan of Swipe, and he’s a pretty sharp guy when it comes to “tokenomics” so…
The Binance acquisition announcement resulted in the price shooting up to $5, but it did not sustain this, the SXP price crashed down to less than $2.In 2020 they canceled their card program (which was free and awesome, by all accounts), replacing it with Binance’s crypto cards. Apparently, with the migration, a lot of balls were dropped with the rewards users had come to expect.
About Swipe
Swipe has some ambitious aims to foray into and disrupt the traditional payment processing industry, but it’s still unclear if they will be successful, at least until the crypto markets validate the token a little more — it’s yet to have reached a top 100 CoinMarketCap ranking.
Unlike other cryptocurrencies, Swipe isn’t just a protocol powered by a distributed network. Rather, Swipe is both a software and a digital wallet ecosystem that together are designed to allow users to buy and spend fiat money and crypto-assets at physical and digital locations.
From kraken.com
Swipe was founded in 2018 by Joselito Lizarondo with the mission to bring cryptocurrency interoperability with traditional finance and was later acquired by Binance in June 2020.
From the (beautifully designed!) Swipe whitepaper
