SoftBank has announced the launch of a new debit-card which will also function as a cryptocurrency wallet. Per a recent press release, the card was created in partnership with Dynamics, a card company based in the United States.
Called SBC Wallet Cards, the new offering is promised to “improve the shortcomings of traditional wallets by providing better security and access.” The card will also be able to “realize hot and cold wallet functions” as well as use its own encryption process. A SoftBank exec has described the card as a tool for improving the effectiveness of payments.
“We are not doing simple cards, but are creating a flexible and faster life of the application scene and the future of payment integration.”
In addition, the publication promises that card issuance will be a lot easier and faster than other methods and that the card will easily facilitate a more beneficial relationship between Softbank (the issuer), and all of the merchants and customers who will be using it.
SoftBank also notes that the SBC Wallet Cards will support an app, which will have a legal currency storage function, a credit card function and an electronic payment service as well, which will together make block confirmation faster, ultimately helping increase the efficiency of all payments.
At the moment, SBC Wallet Cards are only available in Japan, but will spread to other regions sometime in the future, including South Korea, the U.S. and Southeast Asia.
Coinbase also recently expanded support for its crypto-supported debit cards to a new total of 29 countries and 9 assets.
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