Swipe (SXP) is trying to build what could be the most lucrative cryptocurrency capability. Swipe is trying to connect credit and debt payment cards to cryptocurrency.
To explain, Swipe is trying to build a platform that will allow people to spend cryptocurrency funds through credit and debit cards. Hence, Swipe could create a card you can use to buy food for your family at the supermarket with your Bitcoin (BTC) or Binance (BNB).
In essence, Swipe is trying to solve what I consider the biggest cryptocurrency problem. The inability to use cryptocurrency to pay for things in the real world. For example, fuel for your vehicle, your electric bill, and Amazon purchases.
Swipe Enables Cryptocurrency Cards
Notably, Swipe claims its platform allows businesses to accept cryptocurrency payments through Visa and MasterCard products, GooglePay, GPay, Samsung Pay, and Apple Pay. Notably, Swipe claims users can spend Binance (BNB), Bitcoin (BTC), Euros, and US Dollars through its platform.
In particular, Swipe can create cryptocurrency to fiat funded cards through major payment networks. Plus, Swipe Ramps enable a full fiat channel for payments into and out of any asset class. Payment providers can connect to Swipe’s platform by adding Swipe’s Application Programming Interfaces (APIs).
Plus, they claim Swipe can tokenize cards to create Swipe powered debt cards that enable access to Google Pay, Apple Pay, and Samsung Pay. Swipe’s platform could issue virtual and physical credit and debit cards. The Swipe Cards can have a full set of controls, including enabling foreign transactions, card locks, reissuing cards, MCC restrictions, and PIN controls.
Swipe allows payment providers to issue premium and standard cards. Swipe standard card features include on-demand issuing, push provisioning for digital payments, temporary virtual cards, and know your customer (KYC) features. Premium Swipe cards include on-demand issuing, marketing support, cardholder benefits programs, and cashback rewards programs.
They claim the Swipe Cards can meet Know Your Customer and identity verification requirements.
How Swipe Makes Money
Swipe makes money by charging processing fees in Swipe (SXP) and charging for cards.
For example, they charge payment providers a $25,000 setup fee for cards, a 2.5% processing fee on transactions, $6 for a standard virtual card, $4 for a premium virtual card, $8 for a premium physical card, and $12 for a standard physical card. Stripe charges a 1% processing fee on premium card transactions.
Additionally, Swipe will waive the $25,000 fee for premium cards if the payment providers buy a 300,000 SXP in Swipe.
What Value could Swipe (SXP) obtain?
Swipe is a BEP-2 token. BEP-2 is a technical standard that allows Swipe to function on the Binance Smart Chain ecosystem. BEP-2 tokens such as trade can be traded on the Binance Dex decentralized exchange. Users can store BEP-2 tokens in many wallets.
I think Swipe (SXP) could reach an enormous market because of the vast number of payment cards on Earth.
For instance, Visa (V) claimed to support 3.6 billion Visa cards on 9 April 2022. Additionally, Visa claims its network processed 206 billion transactions and servers over 70 million merchants in over 200 countries worldwide. Similarly, there were over 1.46 billion MasterCard (MA) debit cards in circulation worldwide between 2019 and 2021, Statista estimates.
Apple Pay had 507 million users worldwide in December 2021, Statista estimates. Additionally, Apple had a 92% share of the US mobile wallet transactions market.
Hence, Swipe is working with the world’s largest payments networks. Importantly, Swipe is trying to connect two major cryptocurrencies Binance (BNB) and Bitcoin (BTC) to those gigantic payments networks.
What Value Does Swipe (SXP) have?
Mr. Market has an enormous interest in Swipe (SXP). For example, CoinMarketCap estimates Swipe was the fifth-most-trending cryptocurrency on 9 April 2022.
Similarly, Swipe was CoinMarketCap’s 114th largest cryptocurrency on 13 April 2022. CoinMarketCap gave Swipe a Coin Price of $1.27, a Market Capitalization of $608.868 million, a Fully Diluted Market Cap of $659.908 million, and a 24-Hour Market Volume of $54.515 million on 9 April 2022.
They based those numbers on a Circulating Supply of 479.938 million SXP, and a Total Supply of 520.738 million SXP. CoinMarketCap estimates Swipe had a Total Locked Value (TVL) of $1.898 billion on 12 April 2022.
In contrast, CoinBase gave Swipe (SPX) a $1.27 Coin Price on 13 April 2022. CoinBase gave Swipe a $608.9 million Market Cap and a $54.5 million 24-Hour Market Volume on 13 April 2022. They base those numbers on a Circulating Supply of 479.9 million SXP. Swipe is unstable, CoinBase gave it an all-time high Coin Price of $5.86.
I think Swipe (SXP) is a cryptocurrency that could reach an enormous market because it works with some of the world’s most popular products. Namely, Visa (V) and MasterCard (MA) payment cards. Hence, Swipe could be the product that takes cryptocurrency payments mainstream.
Originally published at https://marketmadhouse.com on April 13, 2022.
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