Monday, December 2, 2019

SoftBank Releases Debit Cards With Built-In Blockchain Wallet

Japanese holding company SoftBank has introduced a new debit card featuring a built-in cryptocurrency wallet.

According to a press release on Dec. 1, SoftBank developed a debit card featuring a built-in blockchain wallet in collaboration with United States

Crypto storage and further expansion

Consumers can use the integrated blockchain wallet as both cold and hot digital currency storage and check balance-related information in real-time. Currently, the card is available exclusively in Japan, however, SoftBank plans to roll out the product in Southeast Asia, South Korea

In recent months, SoftBank has actively participated in blockchain-related projects, including a number of investments. In November, SoftBank and other industry players participated in a series B financing round of Lagos-headquartered fintech Opay, which raised $120 million.

SoftBank-backed Chinese fintech firm OneConnect filed for an initial public offering with the U.S. Securities and Exchange Commission. The company seeks to raise $100 million, eyeing a listing on the Nasdaq Global Market or New York Stock Exchange, if approved.

In October, SoftBank, blockchain platform TBCASoft and technology behemoth IBM announced a collaboration to adopt a cross-carrier telecommunications blockchain payment solution. The partnership aims to allow carriers to use blockchain through the Carrier Blockchain Study Group (CBSG) Consortium — founded by TBCASoft and SoftBank

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