Binance-backed crypto wallet Swipe has announced a partnership with decentralized cross-chain oracle network Band Protocol. As a part of the partnership, Swipe will integrate Band’s oracle for launching SwipeFi, an all-new money market protocol built on the Binance Smart Chain network. Swipe has also listed the BAND token on the wallet.
Swipe is thrilled to announce it has listed $BAND and partnered with @BandProtocol to integrate Band’s scalable Oracles for the launch of #SwipeFi, a money market protocol coming soon to #Binance Smart Chain. $SXP #BNB
Learn more about the partnership:https://t.co/GXp6KCpL7n
— Swipe (@SwipeWallet) August 20, 2020
The BAND token will now be available on both, the Swipe Wallet and the Swipe Visa Card. This will allow users to buy, sell, and use the digital asset for payments at more than 60 million merchants across the globe.
SwipeFi is a multi-asset money market protocol to be launched on the Binance Smart Chain, the first of its kind for Binance Smart Chain. The protocol will include a wide range of cryptocurrencies and stablecoins and will implement Band’s data oracles.
Using Band’s oracles will allow SwipeFi to meet its requirements of gathering Binance Smart Chain compatible accurate price feeds in real-time, with low costs and technical requirements. Commenting on the integration with Band Protocol, Swipe CEO Joselito Lizarondo said,
Co-founder and CEO of Band Protocol, Soravis Srinawakoon, stated that the integration with Swipe allows them to provide highly decentralized oracles to ensure the launch of SwipeFi. He further added that the integration would also ensure the inflow of high-quality liquidation and credit ratio data in a decentralized manner.
Swipe is one of the leading multi-asset crypto trading wallets that allow users to buy and sell crypto using their Visa Debit Card. Band Protocol, on the other hand, is a cross-chain data oracle network, that facilitates connecting API and real-world data with smart contracts.