According to a press release dated 01 December 2019. The Japanese banking giant, SoftBank, announced the launch of a new SoftBank Wallet Card (SBC), which will facilitate the storage and transactions of a range digital currencies.
The card will offer the user accessibility and security advantages over traditional cold wallets.
“SBC Wallet Cards utilises its own encryption system, realises multiple encryption mechanisms and can realise hot and cold wallet functions.” Read the press release.
Technologically, the SBC Wallet card is a card made for the digital age. It offers the user a built in app that “utilises the most up-to-date trends.”, which the card holder interacts with via a razor blade slim LED screen, and is said to have a user friendly interface.
“We are not doing simple cards, but are creating a flexible and faster life of the application scene and the future of payment integration. The SBC we built does not close to other encryption cards. You’ll know the black technology only after you used it,” as per SoftBank’s unnamed SBC project leader.
The news of the development and release of the SBC card has been well received by the Japanese market – as per SoftBank- and will also be made available for the US, South Korea, Southeast Asia, and United Arab Emirates markets. However, SoftBank has yet to make a statement on exactly how many cryptocurrencies the SBC card will support.
This latest endeavour is far from being the company’s first foray into the budding business of Blockchain technology. In September 2018, the company joined forces with NASDAQ listed Synchronos -an sms provider and TBCASoft to create a Blockchain based peer-to-peer mobile payments system.
The fact that SoftBank has far reaching influence. The launch of the SBC card could catapult the adoption of cryptocurrency.
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