In line with an official ‘announcement‘ published, ‘Smart card’ cryptocurrency wallet manufacturer firm named ‘Tangem’ has received a $15 Mln investment from leading Japanese Monetary services firm ‘SBI Group’. This new investment can supposedly permit Tangem to relocate its headquarters to the ‘Crypto Valley’ of Zug, Switzerland.
From Zug, Tangem need to develop new use cases for its smart cards that operate just alike the hardware wallet version of banknotes. Each of these smart cards carries a fixed quantity of ‘cryptocurrencies‘. The firm intends for these smart cards to be employed for the daily cryptocurrency payments.
While explaining further, the Tangem’s CEO namely ‘Andrey Kurennykh’, added:
“It is the main mission of Tangem to bring the application of blockchain technology to people’s daily lives. Our technology will assist several industries that can really get benefit from blockchain tech and make the life of people safer and better via monetary inclusion and access to decentralized payment solutions”.
This startup was co-founded by the former head of UBS’s Moscow branch, named ‘Anselm Schmucki, and claims to mix Swiss Monetary ability with Russian IT experience. Underneath the leadership of chief executive officer ‘Andrey Kurennykh’, the corporate employs around 13 individuals in Switzerland, Russia, Singapore as well as Hong Kong.
Presently, the startup is functioning on the application of Tangem notes, and has created and sold-out over 25,000 wallets for people and firms like ‘Cardano‘ and RSK.
Tangem ‘applied‘ the primary pilot sale of its card wallets within the spring of last year. Earlier in January, Tangem reportedly came to an agreement with the Govt. of the Marshall Islands to ‘issue‘ physical banknotes for the Sovereign [SOV], the state digital asset of the Marshall Islands.