Tangem raises $15M from SBI for the industrial adoption of blockchain-enabled smart cards

2 mins

Tangem, the producer of blockchain smart card wallets, raises US$15M from SBI Crypto Investment Ltd. for a breakthrough in mass adoption of blockchain technology.

Tangem pioneered in making crypto currencies look like cash and easy to use as cash, and now attracts additional investment to accelerate the deployment of its technology in other industries where the secure storage and circulation of blockchain assets has the highest potential:

Cryptocurrencies and stable coins
ICO / TAO token distribution
Ticketing
Anti-counterfeit
Digital identity
Retail loyalty and promotions

“We take the next big step on our mission to bring blockchain to people's everyday life,” says Andrey Kurennykh, co-founder of Tangem. “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”.

SBI Crypto Investment Ltd. is a digital asset venture investment company wholly owned by SBI Holdings Inc. ( “SBI”, HQ in Tokyo, Japan, Representative Director, President & CEO Mr. Yoshitaka Kitao), 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 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,” said Yoshitaka Kitao, Representative Director, President & CEO of SBI Holdings Inc.