Swipe, the digital asset and debit card platform, is in the process of expanding its reach to the US market, and to fuel this development, it has joined hands with Evolve Bank & Trust. Evolve Bank & Trust is the global leader offering payment processing solutions via ACH, banking, mortgage, card issuance, and unique strategies to clients based across the globe.
With this integration, Swipe rolls out the most anticipated US Dollar checking accounts for its US-based users, which will allow the users to deposit their paychecks directly into this newly created account, which can also be accessed via the Swipe wallet mobile app. Though this new system still has not got permission from the regulatory bodies yet, once the system starts operating, it will allow the users to access regular ACH and reap the benefits of same-day electronic payments.
Once the USD checking accounts hits the crypto market, it will more comfortable for the users to buy or sell cryptocurrencies, thereby opening the Fiat currency gateways for the US users, besides getting access to US domestic wire payment networks and ACH. The users will be able to buy or sell cryptocurrencies via the app, and the Swipe debit cards will automatically convert the coins into Fiat currency using payment systems like VISA. Customers will also benefit from FDIC insurance up to certain applicable limits.
Swipe aims to launch the new USD checking accounts as quickly as possible may be within the last quarter of 2020. Swipe made this announcement of its integration with Evolve Bank & Trust via Twitter just after the leading crypto exchange Binance took over Swipe in July 2020 to focus on the prospects of crypto debit cards; all services, including the debit card platform, will now be available on Binance.
The US Dollar checking accounts will also include the Swipe Debit cards that can be directly accessed via the Swipe wallet mobile application. Currently, Evolve Bank & Trust already supports both the debit and credit transactions with over 2500 US-based banking institutions. Therefore, Swipe’s integration with the Evolve Bank & Trust will help Swipe to capture the US market quite easily.
As of now, Swipe is available in 31 countries, including France, Germany, Spain, and Italy, amongst others, and now is awaiting its launch in the US markets. On its personal front, Swipe is also making great advancements by adding more advanced features to its product line to create a robust electronic payments platform that is secure and compliant.
