Tangem partners with SBI Holdings to launch Blockchain Smart cards

Dennis Wafula

January 22, 2019

Tangem has curved itself a niche as a leading player in the cryptocurrency Industry after it broke ground on Blockchain smart card wallets. The firm was the first of its kind to bring cryptos closer home by making digital currency look like fiat (cash) and as easy to use as cash. This has attracted like-minded investors into the foray out of Fear of Missing out (FOMO) on the ‘goldmine’.

Tangem has received boosts from other Financial Technology firms in terms of capital injections in order to help it accelerate the deployment of its technology in other industries. These target industries have been identified as having high business potential with regards to secure storage and circulation of blockchain assets. They include, but are not limited to Cryptocurrencies and stable coins, ticketing, anti- counterfeit, digital Identification, retail loyalty promotions as well as in ICOs (Initial coin offerings) otherwise known as token distribution.

Tangem’s Breakthrough in the mass adoption of Blockchain technology

In line with its long term vision of achieving mass adoption of Blockchain technology, Tangem has partnered with Crypto Investment Firm- SBI in a deal worth a whopping $15 Million. The deal will see the two companies roll out mass adoption of blockchain. The goal is to avail blockchain to people’s everyday lives according to Tangem’s co-founder, Andrey Kurennykh.

The deal will build on the success achieved in 2018 where Tangem’s technology was proven by the markets. Last year, there was massive success after the launch of the mass production of Tangem cards for crypto currencies and tokens.

According to Andrey Kurennykh, “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”.

SBI’s internet based financial ecosystem

On its part, SBI has built an internet-based financial ecosystem and is expanding their existing partnerships and investments to digital asset-related venture companies to strengthen their technological supremacy. The firm is a digital asset venture investment company fully owned by SBI Holdings Inc. According to Yoshitaka Kitao, Representative Director, President and CEO of SBI Holdings Inc., “The Tangem hardware wallet is highly secure and affordable and an important tool for promotion of mass adoption of digital assets and blockchain.

SBI believes that the partnership with Tangem Group will help highlight the growing demand for Blockchain services.