SBI Crypto Investment Injects $15 Million into Tangem

Tangem, a smart banknote platform and producer of smart card wallets, announced this Monday that SBI Crypto Investment Ltd., the digital asset venture investment company wholly owned by SBI Holdings Inc., has invested $15 million into its operations.

According to the statement released today, the investment from SBI Crypto Investment will support a breakthrough in the mass adoption of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term technology. Specifically, the cash injection will help Tangem accelerate the deployment of its technology in new industries, where there is a high potential for secure storage and circulation of blockchain assets.

These industries, as outlined by Tangem are Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term and stable coins, initial coin offering (ICO)/tokenised asset offering (TAO) distribution, ticketing, digital identity, anti-counterfeit and more.

Tangem launches physical Bitcoin notes

This investment from SBI Crypto Investment comes eight months after Tangem launched pilot sales of physical Bitcoin (BTC) notes. The notes, which are available in denominations of 0.01 and 0.05 BTC, aim to significantly improve the security of owning and circulating cryptocurrencies, as well as make the whole process easier.

Commenting on the cash injection, Andrey Kurennykh, the co-founder of Tangem said: "We take the next big step on our mission to bring blockchain to people's everyday life. In 2018, our technology was proven by the markets after we launched the mass production of Tangem cards for crypto currencies and tokens."

“With this additional investment in 2019, we will be able to extend our product offering in other industries and provide better support to companies which embrace the idea of physical distribution of blockchain assets".

"The Tangem hardware wallet, which is highly secure and affordable, is an important tool to promote mass adoption of digital assets and blockchain. We believe utilizing Tangem will help stipulate the demand for other blockchain services provided by SBI," added Yoshitaka Kitao, the Representative Director, President and Chief Executive Officer of SBI Holdings Inc.