What is Swipe
What Is Swipe (SXP)?
Swipe is a platform that looks to form a bridge between the fiat and cryptocurrency worlds with its API that is designed to create global payment cards powered by its native SXP token.
Swipe also has an on-chain product called Swipe Swap, an Automated Market Maker which is forked by Uniswap, SushiSwap, and THORchain and is powerd by Swipechain.
This ecosystem is powered by the Swipe Token (SXP), which functions as the fuel for the Swipe Network, and is used for paying transaction fees, and securing Swipechain through bonding and governance.
Who Are the Founders of Swipe?
Swipe was founded by Joselito Lizarondo, an early Bitcoin investor and individual with a wealth of experience in startup businesses. Lizarondo currently serves as CEO of the platform.
In July 2020, it was announced that Swipe was acquired by Binance — one of the world's leading digital asset exchanges — for an undisclosed sum.
What Makes Swipe Unique?
Swipe currently powers the world's largest digital asset exchanges, Binance and FTX, connect to the world's largest payment network, Visa, through its Swipe API.
The Swipe API enables real-time cryptocurrency to fiat conversions with just a swipe of a debit card at a point of sale or ecommerce transaction which enables Swipe to create a frictionless user-expereience for its clients. Bundled in the Swipe API is Swipe Rewards, a card-linked-offer cashback network that lets cardholders earn up to 30% back at participating retailers.
How Is the Swipe Network Secured?
Swipe (SXP) is an ERC-20 token, as a result, its integrity is maintained by Ethereum's proof-of-work (POW) consensus mechanism and massive node network.
Swipechain utilizes a Byzantine Fault Tolerance consensus mechanism via Delegated Proof of Stake (DPoS).
Where Can You Buy Swipe (SXP)?
The Swipe token is currently available to trade on more than 50 different exchanges, including several of the largest and most reputable platforms — including Binance, KuCoin and Poloniex.
SXP is currently listed against a variety of cryptocurrencies, including Tether (USDT), Bitcoin (BTC) and Ethereum (ETH), as well as several fiat currencies, like Korean won (KRW), euros (EUR), and U.S. dollars (USD). For more information about purchasing cryptocurrencies with fiat, check out our comprehensive guide.