Binance is preparing to buy a majority stake in crypto startup Swipe

Binance is reportedly concluding a deal to buy a majority stake in the digital currency payment platform.

The move lays the groundwork for the cryptocurrency to launch its own debit card.

Binance may announce the deal within a week, according to The Block.

Crypto Exchange announced in April that it works on Binance card that will allow users to pay for goods and services balance in Bitcoin (BTC) or Binance Coin (BNB) in its Binance account.

“You will no longer need to sell your cryptocurrency to pay bills. With the Binance Card, you can maintain HODL and spend only what you need to make a payment. “

Binance claims that their card will be accepted by over 46 million online and offline merchants in 200 territories.

At the time of the announcement, the company said that the Binance card was only available as a virtual card in beta and that the company had not yet released the physical card.

Swipe offers cryptocurrency-funded Visa debit cards on top of its crypto wallet services.

The cards are issued by Contis Financial Services Ltd, a senior member of Visa authorized by the UK Financial Conduct Authority, according to the Swipe website.