hello guys
new info revealed today about the evolution of Swipe project.
This is how the Swipe official announcement sounds:
Swipe is thrilled to announce it has partnered with Marqeta, a payments unicorn, to launch @LendFi, an instant Virtual #Visa card in the U.S. that can be immediately tokenized and linked to #Apple Pay & #Google Pay built for real time #DeFi lending access powered by #Swipe Issuing.
according to cointelegraph -
Swipe, a Binance-owned cryptocurrency debit card provider, is expanding its offering with a new crypto Visa card that allows users to borrow funds using blockchain technology.
Dubbed the “LendFi Visa Card,” the new product deploys major decentralized finance protocols to provide “near-instant access to lending balances.” The card is integrated with the LendFi app — a decentralized lending platform that is connected with the borrower through their mobile device. At launch, the platform will support major DeFi protocol Compound, a spokesperson for Swipe said.
This card is issued in partnership with a Californian-based payment company - Marqeta, an unicorn in this domain and will be available for the US market, a huge step for BINANCE in taking a big slice from DeFi pie.
Why is this important? Because Marqeta has partnered with the big JP Morgan for delivering commercial card tokenization.
How Swipe benefits from this?
Well, at first, every operation made by LendFi App will burn SXP, the same procedure like in Binance Card. So, less SXP, potential bigger demand and a growing price.
The second: the US market is big, and if there is accessed, the volume of Swipe business should grow exponentially. Having JP Morgan aside could be a huge support for making decisive steps in conquering the US space.
Those news, gathered with the recently announced Venus (XVS) project which is on farming now on Binance (and will be used by LendFi), the burning program for 66% of the total supply (from 300 mil to 100 mil tokens) and the rest of the events that will become alive this year will drive SXP to a better price. I expect to surpass 7 $ in the next months.
What are the next steps for Swipe?
Customer Care!!!
Yes, this is the major issue of this project.
We know they grew very fast in the last months since Binance bought them,
we know they are developing products, partnerships and events month by month and
we know that the last AMA with their CEO mentioned that Customer Care couldn't grow in the same rhythm with the project
and they promised this will be changing soon.
Conclusions:
Swipe is a fast but solid emerging project which will offer more and more features and burn more and more tokens until the max supply of 100 millions from 300 millions right now. Keep in mind that is powered by Binance and now is entering in the US market with Marqueta payments company and JP Morgan bank.
