For Tangem 2019 has started well with securing investments from SBI Group. The latter is a Swiss-based crypto smart card manufacturer that is now working with SBI Group to achieve its goal of extending its network and making its services available to many.
SBI Group has just invested $15 million in Tangem to push its development agenda of covering other sectors which have a high potential for the digital coins industry. Although Tangem is a firm that is still in its late infancy stages the funds from SBI Group Tangem will be pumped into development and help Tangem achieve its goal. The latter primary goal is to fast track the adoption of virtual currency by making digital assets easy to spend. They released their first digital wallet in June 2018. For Tangem making digital coins and assets available in smart cards will enable users always be able to spend their coins in their day to day endeavours.
Potential Sectors Tangem is Eyeing
Cryptocurrency is opening different sectors in various ways, and for Tangem its smart cards can be used anywhere. With the investments in place, Tangem is eyeing several areas within its reach. According to the press release from Tangem, they will now divert their attention to the digital identity sector, anti-counterfeiting, cryptocurrencies/stable coins, Initial coin offering (ICOs) and token distribution, ticketing sector, retail loyalty and promotions sectors. These are the new sectors that Tangem will be venturing in to spearhead the adoption of cryptocurrency. For them, the funds from SBI Group have come at the right moment.
“For us, 2018 was a successful year. We launched mass production of Tangem smart cards for the industry and from the way the cards were adopted we are proud of our work.” Andrey Kurennykh Tangem co-founder. “But for 2019 the funds from SBI Group will further propel us into achieving our goal of making blockchain part of our everyday life. Furthermore, in 2019, we will be able to provide our services to more people and at the same time be able to support companies with the same goal as ours.”
SBI Group is a well-established company that is making investments around the globe to spearhead the development of crypto. Through its subsidiary SBI Crypto Investment Ltd it’s expanding its presence and at the same time helping other start-ups in the crypto sector develop.