Svmuu News: In his autobiography *Life at Binance*, CZ shared details about the early days of the “Binance Pay Card,” noting: “In February 2020, I was introduced to Swipe Wallet, a Philippine crypto startup. It started out as a wallet but later pivoted to become a crypto debit
card. Users pay with cryptocurrency, while merchants receive fiat currency—making the process virtually seamless for users.
The idea itself wasn’t new; the biggest challenge lay in finding banking partners. For crypto enthusiasts, it eliminated the hassle of selling coins to convert to fiat, allowing cryptocurrency to be used directly for everyday payments. At the time, Swipe wasn’t yet officially operational, but it hoped to gain users through a partnership with Binance. Founder Joseph said he traded 80% of Swipe’s shares for the partnership. He was smart—he later sold the remaining 20% to us for tens of millions of dollars.
Subsequently, Binance launched the Binance Card in Europe, and it quickly became a hit with users.”