What is Swipe?
Swipe is a company which offers a host of cryptocurrency related services including a multi-currency wallet, cryptocurrency debit cards, cryptocurrency payment solutions for merchants, cryptocurrency borrowing, cryptocurrency savings, and custom cryptocurrency debit card issuance.
Although the company is registered in London, England, its head office and team are located in Taguig, an urban district of Manila, Philippines. Swipe has also been working to develop the Swipe Network, an ecosystem of DeFi protocols (more on this later).
Swipe is a digital application that offers a Multi-Asset Blockchain Wallet that allows users to store assets securely. The Swipe Wallet has been designed to require Swipe Tokens SXP to perform all functions and utility of the Wallet including to use the services and to make withdraws. Users on the Swipe Wallet can buy, sell, and pay with their cryptocurrencies to fiat directly within the Wallet application as well as purchase Gift Cards and make instant exchanges between all supported assets. Users are able to use their SXP tokens on launch and there are also tiered benefits based on the SXP holding on the Wallet Contract. All Swipe Wallets require a 1 SXP deposit to activate and utilize on-chain functions based on an audited Smart Wallet-Contract to perform its duties. The protocol has been designed and built on Ethereum and destroys 80% of network and transaction fees are and 20% of the fees are retained by the company.
Swipe Wallet Ltd is the company behind the project and is based in the United Kingdom. Swipe is founded by Joselito Lizarondo who also serves as the companies CEO. Joselito has been involved in cryptocurrency payment startups over the course of the last 3 years all with similar executed plans and visions. Swipe Wallet has already developed it’s MVP wallet application for both iOS and Android and will be releasing it to the full public soon. The Swipe Card which is a Visa Debit Card is issued by a financial institution and program managed by an issuer.
Swipe Wallet will be the base application that powers the product line tied into the Ethereum blockchain using our Wallet Smart Contracts and Time Lock Contracts that are open-sourced and available on our GitHub pages. The Swipe Wallet will initially support 20 blockchain assets which will be available to be bought, sold, and paid with through the application.
Swipe Wallet
The Swipe cryptocurrency wallet supports over 30 cryptocurrencies and fiat currencies. It is a centralized wallet which has its funds secured by Binance’s SAFU fund and 200 million USD or insurance from Coinbase Custody (100m USD) and BitGo (100m USD).
Most funds are kept in cold storage at any given time. Users can swap seamlessly between assets in the app and can also purchase them directly using a debit card, credit card, or wire transfer.
Swipe Savings
Swipe Savings lets users deposit the any of the 12 cryptocurrencies mentioned above in exchange for annual percentage yields (APY) of up to 14%. Assets can either be unlocked or locked and the longer you lock your funds in Swipe Savings, the higher the APY. The SXP staked to acquire Swipe’s more prestigious Visa Debit cards are automatically locked into Swipe Savings and accrue interested while locked.
Swipe Issuing
Swipe Issuing allows third parties to create physical and digital cryptocurrency debit cards with zero hassle. Swipe does all the heavy lifting in terms of regulations, compliance, and network demands in exchange for a setup fee, issuance fee, and a small cut of transaction fees.
Swipe Finance
Swipe Finance (or SwipeFi) is a decentralized lending protocol similar to Compound. It will allow users to lend and borrow half a dozen Ethereum and Binance chain-based cryptocurrencies including BUSD, BNB, DAI, ETH, USDT, and USDC. Like Compound, it will feature a dynamic APY on deposited assets and loans. Lenders will be able to withdraw their cryptocurrency at any time and borrowers will have no time limits on when they must pay back their loans.
Swipe Staking
Swipe Staking will allow SXP holders to stake their Ethereum or Binance chain-based SXP tokens to secure the Swipe network. 20 000 SXP will be distributed daily from SXP reserves to stakers over the 4-year period it will take for all allocated tokens to be issued
Stay up-to-date with all the latest news from Swipe
Website: https://swipe.io
Twitter: https://twitter.com/SwipeWallet
Facebook: https://facebook.com/SwipeWalletOfficial
Medium: https://medium.com/SwipeWallet
Telegram: https://t.me/SwipeWallet