Binance Exchange to Acquire Major Stake In Crypto Payments Provider, Swipe.io: Report

A report from TheBlock reveals that top crypto exchange, Binance is in talks to acquire a majority of the stake in Swipe.io – a crypto payments startup.

While the agreement has yet to be made official, the exchange looks to push through the deal, intending to launch the main version of its Binance Card, a crypto payments debit card.

Back in April, Binance announced the launch of a Beta version of the Binance Card, which allowed users to spend crypto with over 46 million VISA accepted merchants across the world. The card costs $15 for pre-orders with no hidden or additional costs attached.

To begin, the card will start with support for Bitcoin (BTC) and Binance Coin (BNB), but the acquisition of Swipe.io, which allows multiple currencies, could open up the card to allowing more digital assets to be used.

Swipe.io, on its part, will produce the Binance Cards as a white-label product allowing Binance users to spend crypto instantly, with enhanced security features such as a card tracking feature. The official announcement on the acquisition may come later in the week.

The crypto payments platform recently announced a partnership with Samsung Pay to add its Visa debit card option. The addition of Samsung Pay saw the company become the inaugural company to provide this service to both Samsung Pay and Google Pay.

We have reached out to Binance, but as of press time, we have not heard back. We will update this article when they respond.

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Author: Lujan Odera

Quench Your Thirst in Australia, New Zealand by Paying with BTC at Coca-Cola Vending Machines

dentCoca-Cola consumers in Australia and New Zealand can now acquire their soft drinks with cryptocurrency through specific vending machines. A report by The Australian Financial Review recently highlighted that a deal between Asia-Pacific Coca-Cola distributor, Amatil, and Centrapay would see over 1200 point-of-sales accept Bitcoin and ERC-20 tokens.

Centrapay, crypto payments focused startup, is set to scale Amatil’s revenue potential as the world moves to digital payments in efforts to contain COVID-19. Notably, the firm’s website shows that its customers include popular brands like Jack Daniels, KFC, and Adidas. Jerome Faury, the CEO of Centrapay, has since noted that their goal is to increase the adoption of Web 3.0 by enhancing user experience and reducing integration complexity. Faury said,

“We have solved both these issues. Centrapay is pioneering the way to enable this new internet of value and bring its benefits to both consumers and merchants.

And it comes with the added benefit of reducing physical contact and addressing the hygiene concerns we’ve all become acutely aware of due to COVID-19.”

Making Crypto Payments for Coca-Cola

According to the underlying design, crypto payments to Amatil vending machines will be facilitated by QR codes. Ideally, a simple scan of one’s QR code payment sticker should initiate the transaction process. This functionality is backed by a digital storage dubbed ‘Sylo Smart Wallet,’ which ought to be installed prior. It acts as a decentralized link between messaging services and the digital wallet.

Growth Prospects

Following this milestone, Faury noted that Centrapay is looking to further expand its horizon into North America with a focus on the U.S market. According to the CEO, the success in Australia and New Zealand set a good precedent for Centrapay to roll out its products in global markets.

Amatil, on the other hand, also stands to benefit from its partnership with Centrapay. A spokesman from the firm has said that it already uses QR codes with Alipay and WeChat. It, therefore, makes it easier to scale its range of acceptable payment methods with digital assets:

“We want to ensure customers can transact with us in their preferred currency, so accepting digital assets is the next step for us as digital assets become more popular.”

This is not Coca-Cola’s first brush with blockchain tech or cryptocurrencies. In November 2019 they made the announcement they were using SAP’s blockchain tech to become more efficient. They partnered with Blockchain Trust Accelerator back in early 2018 to fight forced labor.

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Author: Edwin Munyui

eToro Social Crypto Trading Platform Buys Delta Crypto Portfolio Tracker App for $5 Million

The popular social trading platform eToro has recently decided to acquire Delta, a cryptocurrency portfolio management application. According to the reports from TechCrunch, the company was bought for $5 million USD, but the terms of the deal remain undisclosed.

Delta is focused on helping investors who want to make more informed decisions about the crypto market. So far, Delta has been used to track more than 6,000 cryptocurrencies from a total of 180 different exchanges. The company claims that over 1.5 people have downloaded the app until today and that a good share of these users can be considered active on a monthly basis.

According to the CEO of Delta, Nicolas Van Hoorde, the acquisition makes sense because there is a very strong synergy between the two companies. They are both very focused on their communities and always innovating. Also, the two firms have been successful in creating a community that has a high level of engagement by using cutting edge technology.

Reports indicate that the team will continue to be primarily based in Belgium and that most of the team members will continue in their positions. What will change is that now the team will work together with eToro to provide solutions that will cater to the needs of the social trading platform as well.

eToro’s CEO Yoni Assia has recently affirmed that most fintech companies right now are not even targetting profitability yet, so he is happy that the firm has been profitable for a long time and that they have several good products.

This is the second time that eToro has bought another company in 2019. Back in March, eToro was able to acquire Firmo Network for an undisclosed amount of money.

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Author: Gabriel Machado