Currently, the development of crypto assets is accelerating. The number of people using crypto assets as an efficient payment solution in today’s digital age continues to increase. In fact, several years ago, it was never imagined that the concept of payment with crypto assets could be like now. This development is also thanks to the existence of a special debit card for crypto assets that continues to grow.
In Indonesia, crypto assets are recognized as commodities that can be traded on a futures exchange. However, in some developed countries, crypto assets are already recognized as currency and means of payment. To that end, the Swipe Visa debit card is here to allow purchases using crypto assets. Its use can also be done anywhere on the payment instrument with the Visa label.
One form of Swipe’s commitment to expanding services, especially in Asia is by providing support for the Indonesia Crypto Grand Prix 2021 event. This event was held by Tokocrypto on January 26 – February 3, 2021. Through a grand prix trading competition, which is the first to be held in Indonesia. . “Swipe’s support (token: SXP) is proof that the crypto asset industry in Indonesia is one of the potential markets in Asia,” said Joselito.
Meanwhile, Chung Ying Lai, Chief Strategy Officer of Tokocrypto said that the support provided by Swipe for the implementation of this event was our first step in working together in building the cryptocurrency ecosystem in Indonesia. “The goal is to increase awareness and also public confidence in adopting crypto assets both in the investment and banking realms,” he said.
In the near future, Tokocrypto will begin releasing the Venus Token (XVS), Swipe’s decentralized financial protocol that will allow users to access the market at high speed and at low cost, and will enable users of the platform to create the first synthetic stablecoin with a protocol called VAI.
The Venus protocol is the world’s first decentralized stablecoin built on the Binance Smart Chain (BSC) which is supported by a basket of stablecoins and crypto assets without any central control. This makes the Venus protocol the largest liquidity money market in the BSC. The presence of this token is a step from Swipe to reach people who do not have access to financial services around the world.
Currently, there are 4 levels of SWIPE debit cards to choose from, namely Saffron, Sky, Steel, and Slate. Cardholders can enjoy several benefits such as, 100% discount for Spotify, Netflix, Hulu, Amazon Prime & Apple Music. Then, a 10% discount that can be used at Travala, Startbucks, Airbnb, and Uber. There is also up to 8% cashback, and a referral commission of up to US $ 30,000. In addition, cardholders can also use the digital version of the debit card by accessing NFC and making ATM withdrawals directly using a smartphone .