Cryptocurrencies are an interesting proposition. They are believed to take over fiat currencies, one day. However, the road to a mass-scale adoption is full of hurdles for cryptocurrencies. Apart from the skepticism revolving the market, there are a lot of gaps that needs to be filled before embarking on the road. One of the major hurdles is the lack of infrastructure. While blockchains provide transparency and aims on increasing accessibility, it is far from convenient as a mode of payment. Swipe is one of the projects which is working on increasing accessibility to the general public to enable cryptocurrencies as a mode of payment.
What is Swipe?
Swipe was founded by Joselito Lizarondo based in London but operating in the United States, Philippines and Estonia. It is a for-profit firm. In 2020, the firm was acquired by the cryptocurrency exchange Binance. The platform is used to support the debit card of the exchange, Binance Card.
Swipe is not just a protocol but a complete ecosystem for a digital wallet as well. The three main products of the platform are: a multi-asset wallet, crypto-funded debit card and SXP. The aim of the network is to bridge the gap between and cryptocurrencies and fiat currencies. The platform is designed to enable users to buy and spend fiat and cryptocurrencies in digital and physical locations. Swipe wallets can also be integrated with Visa debit cards and a smartphone application. The usage of the Swipe wallet is planned to mimic that of an actual wallet.
Moreover, the Swipe ecosystem is also enhanced by the addition of the native token, SXP. The platform does not charge any fees for debit cards but instead makes use of SXP. Partnerships with various organizations have also resulted in plenty of cardholder perks like cashbacks on crypto usage etc.
SXP future outlook
The future outlook of the cryptocurrency is bright. Wallet Investor’s estimates place the cryptocurrency at a price level of $3.56 in a year’s time while the price is expected to continue its upward trajectory over the course of years and reach towards $8.37 in five years’ time. Digital Coin Price is similarly bullish on the future outlook of Swipe token and suggests a year-ending price of $3.46 while the token is expected to be trading at $7.92 by 2026.
The cryptocurrency is rallying upwards in the recent timeframes. At the time of writing, SXP stands at a price level of $2.33. The price has surged upwards by 13% in the daily timeframe while the trading volume has declined by 12%. Swipe stands at a market rank 129 in terms of capitalisation.
