‘Smart card’ crypto wallet manufacturer Tangem has received a $15 million investment from major Japanese financial services firm SBI Group, Cointelegraph auf Deutsch reports on April 24. The new investment will purportedly allow Tangem to relocate its headquarters to the ‘Crypto Valley’ of Zug, Switzerland.
From Zug, Tangem want to develop new use cases for its physical smart cards that function like the hardware wallet version of banknotes. Andrey Kurennykh, Tangem’s CEO said:
“It is the main mission of Tangem to bring the application of blockchain technology to people’s everyday lives.
Currently, the startup is working on the application of Tangem notes, and has produced and sold over 25,000 wallets for individuals and companies such as Cardano and RSK.
Tangem carried out the first pilot sale of its card wallets in the spring of 2018. In January 2019, Tangem reportedly came to an agreement with the government of the Marshall Islands to issue physical banknotes for the Sovereign (SOV), the state digital currency of the Marshall Islands.