• Swipe is a crypto-fiat gateway that enables cryptocurrencies to be spent as fiat currencies in real time. Its mission is to "make crypto finance mainstream by connecting existing payment networks to cryptocurrencies".

  • Swipe features a wallet for users to deposit, store, and withdraw their cryptocurrencies. Users are able to spend these cryptos with the Swipe Visa debit card at any place that supports Visa payments.

  • Swipe also features a utility token, SXP, that can be used for paying for transaction fees, as a medium of exchange, and to receive discounts on the fees. 80% of transaction and withdrawal fees in SXP token are automatically burned on-chain.

  • The project raised 12.00MM USD via private and public token sales in August 2019.

1. What is Swipe (SXP)?

Swipe has developed a debit card and wallet platform that gives users access to spend various cryptocurrencies in fiat currencies on-demand. The crypto-fiat conversion can be done in a few seconds.

Project mission

Swipe aims to make crypto finance mainstream by connecting existing payment networks to cryptocurrencies.

Project value proposition

Swipe allows users to deposit crypto into their Swipe Wallets, which give instant access to spend those funds in fiat currencies, while using traditional Visa debit cards.

Project key highlights

  • Fast conversion: conversions of cryptocurrencies are done in real time and approved within seconds.

  • Scalability: the Swipe Visa card works anywhere which allows Visa payments.

  • Security: all user assets are stored with custodial insurance, and the platform has received a Payment Card Industry Data Security Standard ("PCI DSS") Level 1 certificate.

  • User-friendliness: card holders do not need to convert crypto to fiat manually, as the Swipe Network already provides funding sources for all conversions.

  • Token deflation: when users utilize the Swipe Network and use SXP on-chain, 80% of transaction and withdrawal fees are burned directly by smart contract.

Recent news

  • June 2020: release of Swipe Wallet v1.4.

  • May 2020: release of Swipe Wallet v1.3.

  • April 2020: Swipe enabled Samsung Pay for Swipe Visa card holders,

  • March 2020: Swipe enable users to send crypto globally via iMessage.

  • March 2020: Swipe Visa card became available on Google Pay.

  • February 2020: Swipe formed strategic partnership with Chainlink to bring necessary data to the Swipe Network.

  • February 2020: Swipe collaborated with CertiK to launch the Swipe Network smart contracts, and to build a timelock mechanism for team tokens.

2. Swipe's products and technical infrastructure

2.1 Existing products

Swipe Wallet

The Swipe Wallet is the main hub to access the Swipe ecosystem of products. The wallet supports depositing, storing, and withdrawing fiat currencies, stablecoins, and other cryptocurrencies.

The Swipe Wallet also offers live market data for supported cryptocurrencies. Users will be able to access the price and volume data of the cryptocurrencies they hold with ease.

The Swipe Wallet enables users to buy and sell cryptocurrencies with fiat currencies, stablecoins, or other supported cryptocurrencies. Users may purchase supported cryptocurrencies with linked bank accounts and credit or debit cards.

Swipe Visa debit card

The Swipe Visa debit card is offered with two options: Swipe Saffron and Swipe Slate. The Swipe Saffron card does not require any SXP stake and comes with a lower spending limit, but includes a 1% cash back in Bitcoin (BTC). The Swipe Slate card comes with higher limits and 4% cash back in Bitcoin.

The Swipe Visa card can be managed directly within the mobile application. Once the user has ordered the card, he may activate the card within the wallet and track its status. Users are able to view their card numbers and history by either tapping on the card or on relevant transactions. The card includes security options including freezing or unfreezing the card, upgrading the card, viewing PIN numbers for ATM access, and viewing card numbers through in-app authentication.

Users may also select a “funding source” that dictates to the application which cryptocurrency will be used from the Swipe Wallet to convert to fiat currencies used on the card. The card then will be linked to its funding source balance from the Swipe Wallet, and enable the conversions of the cryptocurrency to fiat currency for the merchant at point-of-sale.

2.2 Technical infrastructure

The Swipe Network operates off-chain, which utilizes the Swipe API, and on-chain, which utilizes the Ethereum blockchain. A user can activate access to the Swipe Network with a 1 SXP deposit. All transaction fees and wallet fees are denominated in SXP. The following chart demonstrates the smart contract interactions:

When transactions occur on the Swipe Network, 80% of the fees, which are denominated in SXP, will be automatically burned by smart contract. The rest of the fees will be retained by the smart contract. In the future, Swipe plans to distribute the fees collected via a Proof-of-Stake mechanism to network validators.

All transactions are updated directly onchain, and then reflected within the Swipe API to notify users of the Swipe Wallet.

3. Economics and supply

Token allocation

Token Name


Private Sale

6.52% of initial total token supply

Public Sale

13.48% of initial total token supply


20.00% of initial total token supply


40.00% of initial total token supply


20.00% of initial total token supply

Token sales data

Token Name


Private Sale Allocation

19,575,000 SXP

Private Sale Token Price

0.20 USD

Private Sale Date

August 1st, 2019

Amount Raised Private Sale

3,915,000 USD (379,800 EUR, 198,450 GBP, 3,253,527 USDT)

Public Sale Allocation

40,425,000 SXP

Public Sale Price

0.20 USD

Public Sale Date

August 2nd - 9th, 2019

Amount Raised Public Sale

8,085,000 USD (majority of funds raised in BTC and XRP)

SXP token allocation (%)

SXP token release schedule

The following chart represents the number and breakdown of all SXP tokens that are to be released into circulation on a monthly basis. The percentages in the chart below reference the initial SXP total supply.

SXP token release schedule

SXP token overview & use cases

Swipe uses a two-layer approach to combine offchain and onchain functions on its platform. For offchain usage, supported cryptocurrencies can be instantly converted to fiat and used at point-of-sale. For onchain usage, users can use the SXP token to interact directly with smart contracts to perform functions, while 80% of fees in SXP are automatically burned.

Users may use the SXP token in the following ways:

  • Medium of exchange: users can store the SXP tokens in their wallets, and use them for fiat payments.

  • Payment for fees: users can use the SXP tokens for conversion fees and withdrawal fees.

  • Discounts: users can stake SXP tokens and receive discounts on fees.

  • Rebates: users are required to stake SXP tokens in order to access higher-tier debit cards and higher rate of rebates.

  • Staking: Swipe plans to implement a Proof-of-Stake (PoS) consensus mechanism, where validators are required to stake SXP tokens.

Token governance & use of funds

As of the time of writing, Swipe has been self-funded, and has not used any of the funds sold through their public and private sales.

The Swipe team holds its funds in fiat, stablecoins, and other cryptocurrencies. The use of these funds are in accordance with an annual budget plan and requires approval from the Board of Directors.

4. Project team

Joselito Lizarondo
Chief Executive Officer
Crypto OTC trader, as well as an early Bitcoin miner and investor.
John Khenneth
Chief Operating Officer
Former Senior Creator at Vibal Group, and Designer at ASEC Asia.
Anecita Sotomil
Chief Legal Officer
Former Tax and Legal Officer at PwC and American Express.
Eric Adolfo
Chief Technology Officer
Former Senior Developer and Project Manager at ING.
Nicole Del Rosario
Head of Marketing
Former PR Officer at Korean Culture Center in the Phillippines.
Danilyn Gervo
Head of Finance
Former Senior HR Officer at Regcris Group of Companies, Senior HR Generalist at First Corinthians MPC.
Juvelyn Yrigan
Head of Support
Former Admin Marketing and Finance Officer at IMMAP, Financial Accounting Analyst at Light of Jesus Family.
Jann Balon
Head of Designs
Former Multimedia Designer at Creadits and Rich Media Manila Incorperated.

5. Roadmap & updates

5.1 Original roadmap & achievements




2019: Q2

Acquired the Swipe branding, intellectual property, regulatory licenses, and Visa approvals


2019: Q2

Built the Swipe Network to process real-time cryptocurrency conversions

2019: Q3

Launched the Swipe Wallet on Google and Apple app stores

2019: Q4

Opened up fiat payment channels to include Sepa, Swift Wires, credit/debit cards, and Apple Pay

2020: Q1

Added Google Pay support for Swipe Visa card holders

5.2 Updated roadmap

2020 Q2

  • Expand service coverage throughout the Asia-Pacific region and Southeast Asia.

2020 Q3

  • Launch interest bearing accounts, credit and lending products within the wallet.

2020 Q4

  • Expand service coverage in North America.

2021 Q1

  • Add support for more payment channels to expand service coverage in Latin America and Africa.

5.3 Commercial partnerships and business development progress

  • Coinbase Custody: Coinbase Custody is a regulated custody services for various cryptocurrencies and stablecoins. Swipe and Coinbase Custody have formed a strategic relationship to provide custody solutions for the clients of Swipe.

  • BitGo: BitGo is multi-signature wallet platform and custodian. Bitgo provides multi-sig transaction support for Swipe, while Swipe offers Bitgo custodial services.

  • CertiK: CertiK is formal verification audit company that specializes in the blockchain technology. Swipe and CertiK work together to launch various components of the Swipe Network, and to properly audit smart contracts prior to mainnet deployment.

  • Chainlink: Chainlink is a decentralized oracle network that enables smart contracts to securely access offchain data feeds, web APIs, and traditional bank payments. The partnership allows Swipe to access Chainlink's decentralized price feed oracles.

6. Swipe's community overview

Currently, Swipe Visa cards are actively shipped in Europe, with expansion plans underway in Asia and North America.

Current community growth strategies of Swipe include:

  • Conducting airdrop campaigns and giveaway programs to raise community awareness.

  • Forming partnerships with key industry players.

  • Hosting online and local events.

  • Communicating constantly with the community via social channels.

Future community growth strategies of Swipe include:

  • Hosting joint marketing events with Binance.

  • Conducting virtual meet-ups.

  • Adding support for more cryptocurrencies.

  • Forming more meaningful partnerships.

  • Launching debit cards in Asia and America.

  • Creating more telegram groups in with native language support.

  • Conducting referral programs.

Community and social channels (Data as of July 7th 2020)

Twitter (English) | 46.2K Followers
Telegram (English) | 26.5K Members
Telegram Announcement (English) | 29.5K Members
Reddit (English) | 206 Subscribers
Medium (English) | 1.0K Followers
Facebook (English) | 7.5K Followers

7. Appendix