Binance acquires Swipe, Swipe (SXP) integrates Chainlink (LINK), etc. : CZ has the art of building a crypto ecosystem around his primary baby. Swipe has set its sights on Chainlink, notably as a transitional step – or more precisely first stage – in the switch to a new range of products.
Chainlink slides into Swipe or vice versa
The crypto company Swipe who is behind multi-asset wallets and licensed debit cards Visa, integrated Oracle data from Chainlink to its architecture.
In an interview with Cointelegraph, the CEO of Swipe, Joselito Lizarondo, indicated that the decentralized nature of the flow of Swipe, provides more reliable price conversion data for users.
He also added that the use of Chainlink is the first step in a migration strategy Swipe from a range of custodial to non-custodial products.
The integration of data from Chainlink will also improve the system of rewards and destruction of tokens.
Asked about the increase in token prices LINK and the potential impact of this increase for users, Lizarondo was evasive and admitted there was a scale of fees, but did not go into detail.
Unclear figures, questionable independence: we defend ourselves!
Lizarondo refused to disclose statistics regarding the exact volume of transactions of Swipe ; he just provided an approximate number of 500,000 users.
He said revealing this data would give the company’s competitors an edge. Although Binance either the majority shareholder of Swipe, Lizarondo asserts that the company maintains its operational independence.
Swipe has also opted for a special custody and management solution since the company uses 2 backup services, Coinbase Custody and BitGo.
Lizarondo justifies this choice by citing 2 reasons: it is a necessity since SXP is not listed on Coinbase ; it is also a measure intended to diversify the risks and avoid, by using his words, “To place all his eggs in one basket”.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
Non-custodial products signed Swipe: they would probably be greeted with joy by cryptophiles weary of hacks and other repeated platform bugs. Chainlink should therefore serve as a link in this stage of production migration from custodial to non-custodial wallets: will the experience bear fruit or will it, on the contrary, be the banana peel that would cause a such project of strategic reorientation to water?
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