The current roller-coaster in the crypto space does not seem to deter new investments in the industry. The Japanese holding company SoftBank announced that it has introduced a new debit card that comprises a built-in crypto wallet.
According to a December 1 press release, SoftBank created a debit card that has a built-in blockchain wallet. This development was made in collaboration with United States-based wallet card developer company, Dynamics. The new product is known as SBC Wallet Cards. It can be used either as a traditional debit card or blockchain wallet.
Storage and Expansion
From now, consumers can use the integrated blockchain wallet as both hot and cold digital currency storage. Moreover, they can check their balance-related information in real-time. At the moment, the new card is available only in Japan. But, SoftBank affirmed that it plans to roll out the product in South Korea, Southeast Asia, Dubai, and the United States in the future.
SoftBank has actively participated in various blockchain-related projects in recent months. Moreover, it has invested in several projects in this industry. Just last month, SoftBank joined hands with other industry players and participated in a Series B financing round of Lagos-headquartered fintech Opay. The fintech raised $120 million.
OneConnect, a SoftBank-backed Chinese fintech firm, filed for an IPO (initial public offering) with the U.S. Securities and Exchange Commission. In that filing, the company aims to raise $100 million. Moreover, it is also eyeing a listing on the New York Stock Exchange or the Nasdaq Global Market, if approved.
In October 2019, SoftBank’s blockchain platform TBCASoft in conjunction with the IBM technology giant firm announced collaboration. In that partnership, the companies aim to adopt a cross-carrier telecommunications blockchain payment solution. Through the partnership, carriers will use blockchain via the Carrier Blockchain Study Group (CBSG) Consortium which was founded by TBCASoft and SoftBank.