BINANCES SECOND ACQUISITION OF 2020 IS RELATED TO CRYPTO DEBIT CARDS

The year 2025 marked a significant period of strategic expansion for Binance, the world's leading cryptocurrency exchange. The leading cryptocurrency exchange Binance officially announced the acquisition of the Visa debit card platform Swipe. Binance has also listed Swipe s native cryptocurrency (SXP), which registered a massive price boost of 21%.While their acquisition of CoinMarketCap grabbed headlines earlier that year, it was their second acquisition, Swipe.io, that signaled a deeper play into the everyday usability of cryptocurrency. Binance s Second Acquisition of 2025 Is Related to Crypto Debit CardsThis move wasn't just about adding another asset to their portfolio; it was a clear indicator of Binance's commitment to bridging the gap between the digital asset world and traditional finance.Swipe, a company based in the Philippines and operating out of London, specialized in crypto-to-fiat Visa debit cards, allowing users to seamlessly spend their cryptocurrency holdings in the real world. Both acquisitions appear to further indicate Binance s interest in crypto debit card issuance. After acquiring the industry s most popular website, CoinMarketCap, in April 2025, Binance has now acquired Swipe, a Philippines-headquartered firm focused on crypto-to-fiat Visa debit cards .This acquisition has allowed Binance to bring crypto to the mainstream. The second acquisition in 2025 for Binance is Swipe, a company in the Philippines issuing crypto debit cards, transferred in fiat currency, through Visa network. The specific card allows users to own more than 20 different cryptocurrencies (including Binance Coin) and spend them in places accepting credit and debit cards.Binance has acquired a company issuing crypto debit cards, transferred in fiat currency, through Visa network.

The acquisition of Swipe allows Binance users to convert crypto to fiat currency at the point of sale.Binance, the largest crypto exchange by trading volume, serves 250M users in 180 countries.This blog post will delve into the details of Binance's acquisition of Swipe, explore the world of crypto debit cards, and discuss their benefits, considerations, and future in the ever-evolving landscape of digital finance.

The Strategic Acquisition of Swipe: A Deep Dive

Binance's acquisition of Swipe was more than just a business transaction; it was a strategic move to solidify its position as a leader in the crypto space.By integrating Swipe's technology, Binance gained access to a platform that allows users to easily spend their cryptocurrency holdings anywhere Visa is accepted.This integration enables users to own more than 20 different cryptocurrencies (including Binance Coin) and spend them in places accepting credit and debit cards.

The move effectively eliminates a major barrier to entry for many potential crypto users: the difficulty of converting digital assets into usable fiat currency. With options like cashback rewards, multi-currency support, and enhanced security features, crypto debit cards provide a practical and incentivized way to use digital assets in daily life. Ultimately, as the cryptocurrency market continues to grow and innovate, crypto debit cards will likely become even more accessible and feature-rich.Instead of needing to go through a separate exchange process, users could simply use their Binance Visa Card (powered by Swipe's technology) to make everyday purchases.

What Did Binance Gain From Acquiring Swipe?

• A Proven Platform: Swipe already had a functioning platform with existing users and partnerships with major payment networks like Visa.
• Crypto-to-Fiat Conversion Technology: Swipe's core technology allowed for seamless conversion of cryptocurrencies into fiat currency at the point of sale.
• Access to New Markets: Swipe had a strong presence in certain regions, particularly in Southeast Asia, which allowed Binance to expand its reach.
• Talent and Expertise: The acquisition brought onboard Swipe's team of experienced developers and financial professionals.

Binance joined Swipe's board of directors, but the firm is able to run the company independently from Binance.The official announcement of the news emphasized how the acquisition would help bring crypto to the mainstream.

Understanding Crypto Debit Cards: A Beginner's Guide

Crypto debit cards function similarly to traditional debit cards, but instead of being linked to a bank account, they are linked to a cryptocurrency wallet or exchange account. Binance will join Swipe s board of directors, but the firm is able to run the company independently from BinanceWhen a user makes a purchase, the card automatically converts the required amount of cryptocurrency into fiat currency (e.g., USD, EUR) at the point of sale.

The cards are accepted at millions of vendors worldwide, both in-store and online, where major card networks like VISA or Mastercard are used, making them a versatile option for international travelers.

How Do Crypto Debit Cards Work?

1. Top-Up the Card: Users load their crypto debit card with cryptocurrency from their wallet or exchange account.
2. Make a Purchase: When a user makes a purchase at a merchant, the card automatically converts the necessary amount of cryptocurrency into fiat currency.
3. Transaction Processed: The transaction is processed through the traditional payment network (e.g., Visa, Mastercard).

Key Features of Crypto Debit Cards

• Convert crypto to fiat currency automatically at the time of purchase, allowing users to spend their crypto assets seamlessly as they would with a traditional debit card.
• Rewards Programs: Many crypto debit cards offer cashback rewards, discounts, or other incentives to encourage usage.The Binance Card is a great way for you to spend your crypto in real life, but also to earn attractive cashback.
• Multi-Currency Support: Some cards support multiple cryptocurrencies, allowing users to choose which currency they want to spend.
• Security Features: Crypto debit cards typically include security features such as two-factor authentication and fraud protection.

Benefits of Using Crypto Debit Cards

Crypto debit cards offer a number of compelling benefits for both seasoned crypto enthusiasts and newcomers alike.

Seamless Spending of Cryptocurrency

The most obvious benefit is the ability to spend cryptocurrency in the real world.Crypto debit cards eliminate the need to convert crypto to fiat manually, making it much easier to use digital assets for everyday purchases.

Access to Funds Anywhere

Because crypto debit cards are accepted anywhere major card networks like Visa and Mastercard are accepted, users can access their funds virtually anywhere in the world.

Potential for Rewards

Many crypto debit cards offer rewards programs, such as cashback, discounts, or bonus cryptocurrency, which can make them more attractive than traditional debit cards.

With options like cashback rewards, multi-currency support, and enhanced security features, crypto debit cards provide a practical and incentivized way to use digital assets in daily life.

Enhanced Financial Control

By using a crypto debit card, you gain direct control over how and when you spend your crypto, bypassing the need for intermediaries in certain situations.

Considerations Before Getting a Crypto Debit Card

While crypto debit cards offer numerous advantages, there are also some important factors to consider before getting one.

Fees and Charges

Crypto debit cards may come with various fees, such as transaction fees, conversion fees, inactivity fees, and ATM withdrawal fees. How are crypto debit cards taxed? When you convert crypto to fiat currency, you ll incur a capital gain or loss depending on how the price of your crypto has changed since you originally received it. Crypto debit cards work by converting cryptocurrency to fiat currency at the point of sale. This means making purchases on a crypto debit cardIt's important to carefully review the fee structure before choosing a card.

For example, Nexo's crypto debit card charges a 1% foreign exchange fee, a 0.9% crypto conversion fee, and a 2% ATM withdrawal fee. Back then, they issued Visa-based debit cards via which users could easily spend their deposited crypto. Now, the company has become a digital fintech bank, filled with multiple features. With this in mind, users who complete the on-boarding process will unlock a fully serviced bank account with all of the standard bank features.You should compare these figures with other cards available.

Tax Implications

Using a crypto debit card can trigger taxable events. Crypto exchange Binance has completed the acquisition of Swipe, the London-based provider of Visa crypto debit cards, confirming The Block s reporting from last week. Officially announcing the news on Tuesday, Binance said the acquisition would help bring crypto to the mainstream.When you convert cryptocurrency to fiat currency, you may incur a capital gain or loss depending on the price of your crypto at the time of the transaction compared to when you acquired it.

Keeping accurate records of your crypto transactions is crucial for tax reporting purposes.

Security Risks

Like any financial product, crypto debit cards are susceptible to security risks, such as hacking and fraud. BlockFi Rewards Visa Signature:The crypto debit card with easiest access across US Wirex:Crypto Card to earn more while spending more Monolith Card:Best crypto debit card for beginners KuCoin Card:Crypto debit card with highest supported currencies Nexo Card:Crypto Debit Credit Card Duo in OneIt's important to choose a reputable card provider and take steps to protect your account, such as enabling two-factor authentication.

Volatility of Cryptocurrency

The value of cryptocurrency can fluctuate significantly.This volatility can impact the purchasing power of your crypto debit card and potentially lead to unexpected gains or losses.

Choosing the Right Crypto Debit Card: Key Factors

Selecting the right crypto debit card depends on your individual needs and preferences. Do tariffs end up leading to lower interest rates, more liquidity, and ultimately a higher Bitcoin price?Drawing on @FedGuy12's analysis, @_dsencil breaks doHere are some key factors to consider:

Supported Cryptocurrencies

Make sure the card supports the cryptocurrencies you want to spend. Pavel Nikienkov (@pavelravaga), co-founder and Project Manager of @zano_project, lays out a persuasive argument to BTCTN s @_dsencil for why privacy projectsSome cards only support a limited number of cryptocurrencies, while others support a wider range.

KuCoin Card has the highest supported currencies.

Fees and Limits

Compare the fees and transaction limits of different cards.Look for cards with low fees and reasonable limits that meet your spending needs.

Rewards Programs

Evaluate the rewards programs offered by different cards. The Cato Institute raises concerns over Fincen's new reporting regulations, signaling a threat to financial privacy. As governments tighten their grip, couldSome cards offer higher cashback rates or more attractive rewards than others.

Nexo Crypto Card offers up to 10% cashback.

Security Features

Prioritize cards with strong security features, such as two-factor authentication, fraud protection, and instant card freezing.

Ease of Use

Consider the ease of use of the card's mobile app and website. Crypto debit cards convert cryptocurrencies to fiat currency automatically at the time of purchase, allowing users to spend their crypto assets seamlessly as they would with a traditional debit card. Users top up the card with crypto, which is then available for use at merchants worldwide, with the conversion to local currency happeningLook for cards with intuitive interfaces and helpful customer support.

Ease-of-use: Try and find out how easy it is to use various features and functionality including virtual or physical card use, options, linked exchange accounts, spending limits, and customer support etc.

Examples of Popular Crypto Debit Cards

Several crypto debit cards have gained popularity in recent years. Binance, the largest crypto exchange by trading volume, serves 250M users in 180 countries. With 350 listed altcoins, it is the world's leading crypto exchange.Here are a few notable examples:

• Binance Visa Card: Launched in 2025, the Binance Card has already established itself as a heavyweight in the crypto debit card market. To solve the issue, many developers and exchanges decided to release crypto debit cards, which basically allow you to make transactions with crypto tokens. In 2025, the leading crypto exchange Binance also released its own crypto debit card called Binance Visa Card.It is available in EEA and LATAM, with plans to expand into many more.
• Coinbase Card: Offered by the popular cryptocurrency exchange Coinbase.
• Crypto.com Visa Card: Offers various tiers of cards with different rewards and benefits.
• Nexo Card: Allows users to spend without selling their crypto, offering a no-foreign-exchange-fee experience along with up to 2% cashback in cryptocurrency.
• BlockFi Rewards Visa: Offers rewards in Bitcoin for every purchase made. The world s largest cryptocurrency exchange, Binance, has completed its second acquisition in 2025. Both acquisitions appear to furtherBlockFi Rewards Visa Signature is the crypto debit card with easiest access across US.

The Future of Crypto Debit Cards

Crypto debit cards are still a relatively new technology, but they have the potential to revolutionize the way people spend and use cryptocurrency.As the cryptocurrency market continues to grow and mature, we can expect to see even more innovation in the crypto debit card space.

Potential Future Developments

• Increased Adoption: As more people become familiar with cryptocurrency, the demand for crypto debit cards is likely to increase.
• Improved Functionality: Future crypto debit cards may offer more advanced features, such as integration with decentralized finance (DeFi) platforms.
• Lower Fees: Competition among card providers could lead to lower fees and more attractive rewards programs.
• Wider Availability: Crypto debit cards may become available in more countries and regions as regulatory hurdles are overcome.

Ultimately, as the cryptocurrency market continues to grow and innovate, crypto debit cards will likely become even more accessible and feature-rich.

These cards offer a blend of convenience, security, and usability, effectively bridging the gap between the digital currency world and traditional financial systems.

Crypto Debit Cards and Taxation: A Complex Landscape

One of the most complex aspects of using crypto debit cards is understanding the tax implications.Because cryptocurrencies are generally treated as property by tax authorities, each transaction made with a crypto debit card can trigger a taxable event.

Understanding Capital Gains and Losses

Whenever you use a crypto debit card to make a purchase, you are essentially selling your cryptocurrency for fiat currency.If the value of your cryptocurrency has increased since you acquired it, you will realize a capital gain.Conversely, if the value has decreased, you will realize a capital loss.

For example, let's say you bought 1 ETH for $2,000. Crypto debit cards often come with rewards programs, like cashback or discounts, which might offer more value than traditional debit cards. These cards are accepted at millions of vendors worldwide, both in-store and online, where major card networks like VISA or Mastercard are used, making them a versatile option for international travelersYou then use your crypto debit card to spend 0.1 ETH when the price is $2,500. Compare between all crypto debit cards in our Cryptocurrency Debit Card List. We compare and review the largest number of crypto debit cards in the world. Cryptocurrency Debit Card List with 30 Debit Cards (2025)You will realize a capital gain of $50 (0.1 ETH * $500 profit per ETH).

Record Keeping Is Essential

Keeping accurate records of all your crypto debit card transactions is crucial for tax reporting purposes.You should track the following information for each transaction:

• Date of the transaction
• Amount of cryptocurrency spent
• Value of the cryptocurrency at the time of the transaction
• Fair market value of the goods or services purchased

Consult a Tax Professional

Given the complexity of crypto taxation, it's always a good idea to consult with a qualified tax professional who can provide personalized advice based on your specific circumstances.

Addressing Common Concerns and Questions

Here are some frequently asked questions about crypto debit cards:

Are Crypto Debit Cards Safe to Use?

Yes, but it's important to choose a reputable card provider and take steps to protect your account, such as enabling two-factor authentication and being wary of phishing scams.

Can I Use a Crypto Debit Card at Any Merchant?

You can use a crypto debit card at any merchant that accepts Visa or Mastercard.

What Happens if My Crypto Debit Card Is Lost or Stolen?

Contact your card provider immediately to report the loss or theft.They can typically freeze your card and issue a replacement.

Are Crypto Debit Cards Available in My Country?

The availability of crypto debit cards varies by country.Check with different card providers to see if they offer cards in your region.

Conclusion: The Future of Spending is Crypto

Binance's acquisition of Swipe in 2025 underscored the growing importance of crypto debit cards in the broader cryptocurrency ecosystem.These cards offer a convenient and practical way to spend digital assets in the real world, bridging the gap between the digital and traditional financial systems.

While there are still some challenges to overcome, such as fees, tax implications, and security risks, the benefits of crypto debit cards are undeniable.As the cryptocurrency market continues to evolve, we can expect to see even more innovation in this space, making it easier and more convenient for people to use cryptocurrency in their everyday lives.

Key Takeaways: Crypto debit cards offer a seamless way to spend cryptocurrency, provide access to funds globally, and can offer rewards programs. Nexo Crypto Card. Overview: Nexo s crypto debit card is tailored to crypto investors who prefer to hold onto their assets. The card allows users to spend without selling their crypto, offering a no-foreign-exchange-fee experience along with up to 2% cashback in cryptocurrency.Before getting a card, consider fees, tax implications, and security.The Binance Visa Card, powered by the Swipe acquisition, is a prominent player in the crypto debit card market.The future of spending is increasingly digital, and crypto debit cards are poised to play a major role.