SBI fuels $15m funding in Tangem’s blockchain smart cards
Blockchain smart card wallet producer Tangem has raised $15 million from SBI Crypto Investment for its crypto ambitions.
Switzerland-based Tangem’s dream is to make cryptocurrencies look like cash and “easy to use as cash”.
“We take the next big step on our mission to bring blockchain to people’s everyday life,” says Andrey Kurennykh, co-founder of Tangem.
With this additional investment it plans to extend its product offering in other industries and provide better support to companies interested in the physical distribution of blockchain assets.
“We believe utilising Tangem will help stipulate the demand for other blockchain services provided by SBI,” says Yoshitaka Kitao, representative director, president and CEO of SBI Holdings.
SBI Crypto Investment is wholly owned by SBI Holdings.
The latter has a great interest in blockchain. As an example, back in November 2018, SBI Ripple Asia and the Japan Payment Card Consortium planned to combat fraud using the technology.