Managed by the SBI Holdings Inc. Japanese corporation, the investment SBI Crypto Investment Ltd. company invested $ 15 million in Tangem Singapore startup, engaged in the release of bitcoin banknotes. This was announced by the company in the official announcement.
It should be noted that the financing will enable the Tangem developers to find new industries in the use of cryptocurrencies and stable-lcoin.
Tangem, which began producing its first wallets in June 2018, seeks to increase the use of cryptocurrency.
Tangem will now form two target industries that he hopes to use to distribute crypto-smart-cards. The company also said it is considering the possibility of distributing tokens and identifying counterfeit coins (ICO).
At the same time, the company is interested in ensuring the security of the initial offers of coins (ICO), the placement of tokenized assets (TAO), as well as the development of digital identification and anti-counterfeiting solutions.
"We believe that Tangem’s support and an amount of $ 15 million from the Japanese SBI group will help increase the demand for other blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details services provided by SBI", said SBI Holdings Inc., President and CEO. Yoshitaka Kitao.
Recall that the first issue of “smart-banknotes” with denominations of 0.01 and 0.05 BTC took place in May 2018. The bills are hardware cold wallets with an integrated Samsung S3D350A chip.
"Thanks to these additional investments, in 2019 we will be able to expand the range of our products in other industries and provide better support to companies that adhere to the idea of the physical distribution of assets of the blockchain", says co-founder Andrei Kurennyh in a press release.
While Tangem is a relatively new project, investment is another way for SBI in the field of cryptocurrency.
Editor: Yuliya Soroka