SoftBank issues debit card with integrated blockchain wallet


SoftBank has been recently in the news primarily because of the WeWork “ordeal”. However, the Tokyo-based conglomerate has now entered the blockchain space by releasing a debit card with built-in blockchain wallet.

The card is developed in collaboration with the US-based wallet developer company called Dynamics. The product is names SBC Wallet Cards and it can be used both as a traditional debit card or as a blockchain wallet, depending on the customers’ needs.

In addition, just as with regular wallets, the built-in wallet in the card can be used for both hot and cold crypto storage as well as for real-time balance checking. While the card is only available in Japan right now, SoftBank intends to roll it out to the US, Dubai, South Korea and Southeast Asia in the near future.

SoftBank has gone into the blockchain space recently and has made a number of investments. As CoinTelegraph reported, in November, the conglomerate and other players went into a series B round for the fintech company Opay.

Moreover, OneConnect, which is a Chinese fintech company backed by SoftBank filed for an IPO with the US SEC, seeking to raise a round of $100m – a potential listing on the Nasdaq Global Market or NYSE.

Finally, as CoinTelegraph reported, SoftBank entered into a partnership with TBCASoft, a blockchain platform, and IBM for a project that aims to adopt a cross-carrier telecommunications blockchain payment solution.

More about SoftBank can be found here:

Read Also: