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Binance About To Purchase Swipe’s Outstanding Shares

One of the top crypto exchanges globally (Binance) has disclosed its intention to buy Swipe’s outstanding shares. Swipe is the acknowledged leader in issuing crypto visa cards. Swipe users can spend their digital assets across multi-million locations globally. Hence, if Binance can acquire Swipe shares, it would become a true competitor for top retail crypto merchants like MasterCard and PayPal.

The Binance-Swipe History 

Binance’s first acquisition of Swipe’s shares dates back to the middle of last year, intending to make crypto-fiat exchange easy for its customers. Part of an official statement from Binance today states that “Binance seeks to purchase Swipe’s outstanding shares. 

Both companies are licensed partners in issuing visa cards. Swipe acts as our tech platform for card management. Swipe has also expanded into various regions and markets where it is licensed for its card issuance operations.” Swipe’s native token (the SXP) surged by nearly 35% a few minutes after the announcement.

Binance’s Exploits Amidst Regulation Troubles

Binance has endured various struggles since the beginning of the year, especially related to the license of its operations in various nations. But despite these struggles, Binance keeps expanding its operations globally. It has made new collaborations and obtained licensing operations from various countries’ regulatory bodies. 

One of its recent moves was being granted an in-principle approval license to provide virtual asset services in Bahrain. Also, Canada’s financial regulators approved the MSB license to expand its crypto-related offerings in the country. Furthermore, two weeks ago, Binance collaborated with Telkom Indonesia (the biggest telecom company in south-east Asia) to extend its crypto services in that area.

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This year, Binance achieved a partnership deal with the Dubai world trade center and established the area as a top crypto environment. Also, Binance’s boss, CZ, has disclosed that Binance US is about to complete its latest funding round, which would be the biggest amount raised in its short history.

So, Binance continues to expand its businesses in several world regions even though it has had its challenges with regulatory authorities this year. If Binance is successful with its moves to be in the good books of these regulatory bodies, there is no limit to how great it can extend its businesses.

Binance Coin Delivers A Staggering 1,300% Profit, Outperforms BTC And ETH

On-chain analytics research firm, Arcane Research, has awarded Binance governance token, Binance coin (BNB), the year 2021. Arcane stated that the Binance coin had performed phenomenally this year.

Part of Arcane’s statement states that “BNB gain of almost 1,300% in price makes it a better performer than other digital assets including BTC even though BTC outperformed the stock market this year. Also, the growth of the Binance smart chain community has seen it take some share from Ethereum.” Binance is one of the reasons Ethereum can no longer lay claim to being the king of smart contract platforms. Despite having issues with flash loan hacks and validators, the Binance team ensured that BNB’s price performed excellently throughout the year.

📰 Also read:  Price Analysis October 10th, 2024 - BTC, BNB, ETH, SOL, ADA, and SHIB

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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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