TrustSwap announces that its utility token, SWAP, will be listed as a currency on a VISA credit card.
This listing is powered by Connect Financial and will make SWAP available to users of the Connect VISA credit card. This integration will also usher in the issuance of credit cards that are custom branded to TrustSwap.
— TrustSwap (@TrustSwap) December 19, 2020
Currently, there are other crypto cards that are available on the market, such as Wirex and Crypto.com cards. These cards play the role of prepaid debit cards and require the users to liquidate their crypto to fiat currency. Such cards can also mandate the users to convert their digital assets to the native token of the card providers.
Cards like these can have limitations in regard to jurisdictions. Also, such cards may only be available for use with specific merchants. With the Connect VISA credit card, all these restrictions are eliminated. This is because the Connect VISA credit card is a trusted card that can be used all around the world.
Issuance of Branded TrustSwap Cards
TrustSwap-branded credit cards will be issued as a result of this integration. In this case, users will be able to load their card with the SWAP token. Once that is done, users will also have the capacity to use the cards all across the world, whether in-person or online.
It is pertinent to note that SWAP is being used as collateral on the card. As a result, more tokens will be removed from the circulating supply. The Connect credit card will also remove tokens that are in the circulating supply because more than 50% of all the entire SWAP circulation is locked in the staking portal. In view of the facts that SWAP is now a usable global currency and the future reductions in the circulating supply, the token will definitely become scarcer as time progresses. In January 2021, applications for the VISA card will open for all users.
Recently, popular crypto YouTuber Ivan on Tech featured TrustSwap as one of his “Top Altcoin Picks for 2021” in the “Empire Coin” category. In the video, TrustSwap was featured alongside $YFI as Ivan clearly explained his view of “Empire Coins” projects. According to him, these Empire Coins are “projects that engulf” and “eat up other projects.”
In that same video, Ivan also gave some important information concerning the SWAP and VISA integration.
Before now, Visa also announced the addition of new features to its fintech Fast Track Program. The new features from Visa include its Partner Toolkit and the introduction of a certification program.
As of the time of publication, TrustSwap (SWAP) price was $0.481861 with a 24-hour trading volume of $1,984,510. SWAP price also rose by 5.1% over the previous 24 hours. It also has a circulating supply of 64.6 million coins and a max supply of 100 million. Uniswap (v2) is the current most active market trading SWAP.
For more information on TrustSwap, check out the Altcoin Buzz YouTube channel.