June 19, 2024

SoftBank Releases Debit Card with Built-in Cryptocurrency Wallet

The Japanese conglomerate SoftBank, together with the American project Dynamics, presented a new debit card withbuilt-in cryptocurrency wallet — SBC Wallet Cards.

SoftBank says new product maybe used as a regular debit card or wallet based on the blockchain, at the discretion of the user. Customers will be able to use the built-in wallet for hot or cold storage of cryptocurrencies, as well as check balance information in real time.

To date, the card is available only in Japan, but in the future SoftBank plans to introduce it in Southeast Asia, South Korea, the USA and Dubai.

SoftBank takes an active part in projects,related to blockchain technology. So, in February, SoftBank and the American telecommunications company TBCASoft led a research group to study the blockchain in the framework of digital identity. In addition, in October they launched a blockchain-based payment solution for making P2P payments between various mobile operators, now with the participation of IBM.