Japanese Banking Giant SoftBank Launches Debit Cards With Built-In Blockchain Cold Wallet Tech


Softbank, a Japan-based holding company, has just announced an original debit card that includes a built-in crypto wallet.

In a press release from December 1st, SoftBank announces that it has developed the blockchain built-in wallet debit card in partnership with Dynamics, a US-based company that developed the card. The product has been named SBC Wallet Cards which can be utilized as both a blockchain wallet and traditional debit card.

SoftBank, Very Involved in Blockchain-Based Projects

SoftBank clients will be able to utilize the built-in blockchain wallet for both cold and hot storage of their digital currency, also to check their balance in real-time. At the moment, the card has been exclusively launched for Japan, but SoftBank wants to expand the product in the US, Dubai, Southeast Asia and South Korea.

In the recent past, SoftBank has adopted an active role with blockchain-based projects and made a few investments. Only in November this year, it has participated, together with other players in the industry, at a round of series B financing held by the Lagos-based fintech Opay, raising $120 million.

SoftBank Filed for an SEC Initial Public Offering

Backed by the Chinese fintech company OneConnect, SoftBank filed for an initial US Securities and Exchange Commission (SEC) public offering. It wants to raise up to $100 million and to be listed on the New York Stock Exchange or the Nasdaq Global Market if it gets approved.

Back in October, its TBCASoft blockchain platform has announced a collaboration with IBM, a collaboration that’s looking to implement a cross-carrier telecommunications payment solution that is blockchain-based. The partnership’s aim is to allow the use of blockchain for carriers via the Carrier Blockchain Study Group Consortium (CBSG), which was founded by SoftBank and TBSCASoft.

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