Debit card with a built-in cryptocurrency wallet? Do you think it’s possible? If not, have your eyeballs on this news because Japan-based multinational conglomerate holding company headquartered in Tokyo; SoftBank made it possible. The recent press release announced by SoftBank clearly states that it has developed a debit card with a built-in cryptocurrency wallet. But thanks to the blockchain adoption and advancements in this segment without which SoftBank can’t make it possible.
Though SoftBank has the idea, it can’t be successful without any collaboration. So, the Japanese bank seeks help from the Dynamics. Dynamics is a renowned wallet card developer in the United States. The collaboration has helped SoftBank much to come up with a blockchain-enabled debit card for its customers; named as SBC wallet cards. SoftBank also claims that SBC wallet cardholders can use this built-in cryptocurrency wallet either as a traditional debit card or as a blockchain wallet.
Storage & Expansion of the Built-in Cryptocurrency Wallet
SoftBank also claims that its consumers can use its SBC wallet cards which is an integrated blockchain wallet as both hot and cold digital currency storage. And again, they can check the real-time crypto balance-related information using the SBC wallet debit card. At present, the SBC wallet card is exclusively available for Japan customers only. However, SoftBank plans to roll out this premium debit card in the United States, South Korea, Southeast Asia, and Dubai shortly.
The worldwide reports say SoftBank participates in several blockchain-based projects this year. And, have done many investments as well. From the last month’s financial report, it is clear that Softbank and other key industry players had participated in a Series B financing. As a result, the profit margin goes up to $120 million. OneConnect (one of the SoftBank-backed Chinese fintech firms) filed for an initial public offering recently with the U.S. Securities and Exchange Commission. The main motive behind the filing is to raise $100 million eyeing a listing on the New York Stock Exchange or Nasdaq Global Market.
Another news on SoftBank, IBM, and blockchain platform TBCASoft’s collaboration creates a big sensation in the market. The partnership happens to adopt a cross-carrier telecommunications blockchain payment solution. As a result, telecom carriers will soon be seen using blockchain technology through the Carrier Blockchain Study Group (CBSG) consortium.
Know how the travel industry benefits from blockchain technology here: