Blockchain Smart Credit Card Developer Tangem Secures $15 Million Investment From SBI

Tandem, a Switzerland-based startup for smartcard-based NFC wallets for cryptocurrencies and blockchain assets, announced on Monday it received a $15 million investment from Japan’s SBI. According to Tandem, the investment will be used to accelerate the deployment of its cryptocurrency/stable coins, as well as other technologies, including:

  • ICO / TAO token distribution
  • Ticketing
  • Anti-counterfeit
  • Digital identity
  • Retail loyalty and promotions

While sharing more details about the company’s development, Andrey Kurennykh, Co-Founder of Tangem, stated:

“We take the next big step on our mission to bring blockchain to people’s everyday life. In 2018, our technology was proven by the markets after we launched the mass production of Tangem cards for crypto currencies and tokens. With this additional investment in 2019, we will be able to extend our product offering in other industries and provide better support to companies which embrace the idea of physical distribution of blockchain assets.”

Yoshitaka Kitao, Representative Director, President & CEO of SBI Holdings Inc., went on to add:

“The Tangem hardware wallet, which is highly secure and affordable, is an important tool to promote mass adoption of digital assets and blockchain. We believe utilizing Tangem will help stipulate the demand for other blockchain services provided by SBI.”

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