The Swipe debit card and wallet platform has integrated Chainlink (LINK) data oracles to improve the accuracy of reward issuance and token burning.
Swipe CEO Joselito Lizarondo said the Chainlink decentralized pricing feeds will provide more accurate and fair token conversion pricing for users and was an important step toward greater decentralization:
„This is important for us to provide transparency to our users, especially because we are leaning towards migrating from custodial to non-custodial products in the future. So this is a starting point for decentralization in our system to ensure that our users see a fair price.
What is behind Chainlink’s meteoric rise?
Cointelegraph asked Lizarondo if he was concerned about the increase in LINK price, as Chainlink data consumers have to pay with LINK tokens for their data calls. Lizarondo acknowledged that „there is a rate structure“, but refused to disclose the details.
Half a million users
Swipe-powered Binance Kryptonie Debit Card debuts in Europe
Swipe’s CEO refused to disclose statistics on debit card transaction volumes, saying that they have 500,000 users. He said that since his competitors do not disclose their numbers, he does not want to give them an advantage.
The major crypto-currency exchange Binance is the majority owner of Swipe, but Lizarondo said the company has retained its operational independence. Swipe also has an interesting philosophy towards digital asset custody, employing two main custodians: Coinbase Custody and BitGo.
Is Chainlink ready for a massive sale after reaching a new all-time high?
Lizarondo explained that it is dictated both by need, since Coinbase does not yet support Swipe’s native SXP token, and by the desire to diversify its risks:
„We don’t want to put all our bets on one place. We don’t want to have a central point of failure, even though they are very reliable custodians.