Industrial blockchain smart cards to come up with $15mn Tangem’s fund raise from SBI
The blockchain smartcards producing company, Tangem has collected $15 million from the SBI Crypto Investment Ltd. for the tech adoption. Announced today, the company makes crytocurrency user friendly as an alternative form of cash. It now seeks to expand its territory to pour in investments to boost the innovative technology’s usage in other industrial sectors in which blockchain based assets circulation is prevalent and secured storage facility is required.
The range of domains include anti-counterfeiting, promotions and retail loyalty, digital identity, stable coins and digital currencies, ticketing, TAO token distribution and ICOs. With this initiative of Tangem, the advanced technology is reaching out to greater masses.
“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“, stated the co-founder of Tangem, Andrey Kurennykh.
On the other hand, SBI Holdings owned crypto venture investment firm is SBI Crypto Investment Ltd. SBI has developed financial ecosystem based on internet and is working towards stepping into crypto based venture companies to ensure 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, the SBI Holdings Inc. CEO and Representative Director.
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