SoftBank Launches Debit Card with Built-in Crypto Wallet
SoftBank, a Japanese multinational conglomerate holding company headquartered in Tokyo, has launched a unique debit card that includes a crypto wallet. SoftBank created the debit card with built-in crypto wallet in partnership with the US based wallet card creator Dynamics. The latest product has been christened SBC Wallet Cards and can be used as a conventional debit card or blockchain wallet.
The in-built blockchain wallet can be used by consumers as both cold and hot storage to validate balance related data in real-time. As of now, the card is offered exclusively in Japan. However, SoftBank intends to launch the debit card in South Korea, the US and Dubai in the months ahead.
Of late, SoftBank has been investing in several blockchain related endeavors. Earlier this month, SoftBank and other prominent blockchain related firms took part in a series B funding round conducted by Opay, a Lagos-based fintech firm. Opay raised $120 million for its project.
SoftBank also funded Chinese fintech company OneConnect, which submitted an application to the US SEC (Securities and Exchange Commission) for an IPO (initial public offering). The company intends to amass $100 million and get listed on the Nasdaq or NYSE.
Last month, SoftBank, software giant IBM and blockchain solution provider TBCASoft partnered to establish a cross-carrier telecom related blockchain payment system. The collaboration intends to permit carriers to utilize blockchain via the Carrier Blockchain Study Group (CBSG) Consortium, which was founded by SoftBank and TBCASoft.