Swipe, a Binance-owned cryptocurrency debit card company, has announced a new Visa crypto card enabling consumers to access loans using blockchain technology. Currently, the Swipe platform allows users to access a secure multi-asset platform with functionality across multiple modes of exchange.
Introducing the LendFi App
The new blockchain-based lending network approves consumer loans and disburses them to accounts. Known as the LendFi App, Swipe’s new offering features a stablecoin aggregator to purchase with their card.
Cardholders can receive up to 4% cashback on all transactions. The app also supports stablecoins so users can deposit several 1:1-linked stablecoins to the dollar.
Instant Access to a Visa Card
Swipe CEO Joselito Lizarondo says borrowers would have access to “an instant Visa card upon successful approval that automatically provides real-time access to their loan balances.”
Binance, one of the world’s largest cryptocurrency exchanges, acquired Swipe for an undisclosed sum in July 2020.
