Last night, the Japanese conglomerate SoftBank Group announced a new crypto wallet card, that looks just like your traditional credit or debit card but has some unique crypto-specific features in tow.
While the name SoftBank may not initially ring a bell, the company owns a stake in a number of major brands and has over 22 million paying smartphone service subscribers that they’ll soon be introducing cryptocurrencies like Bitcoin, Litecoin, Ripple, and Ethereum to when the card eventually rolls out.
Japanese Conglomerate Introduces Cutting Edge Crypto Wallet Card
Japanese holding company and multinational conglomerate, SoftBank, has revealed plans to debut a new cryptocurrency wallet card, that looks and feels just like a debit or credit card, ready to fit in your wallet or purse, but features a bevy of useful benefits for cryptocurrency users and investors.
The ultra-thin card – about as thin as traditional credit and debit cards – features a tiny LED screen that displays a crypto user’s portfolio balance in real-time, built-in wifi and a micro-battery that keeps the card functioning for up to three years.
Not only can the card be used to actually spend cryptocurrencies at point-of-sale retail locations and online, but the card itself also acts as a hot or cold storage cryptocurrency hardware wallet for the safekeeping of crypto assets like Bitcoin, Ethereum, Ripple, Litecoin, and many more.
The card can also be linked to a user’s bank account to spend fiat currencies alongside crypto, which can be toggled back and forth via a companion mobile app.
The card itself is the perfect example of what’s necessary to bridge the gap between cryptocurrencies and everyday mainstream users who are less than tech-savvy and will require an easy to use user interface to ever be able to take full advantage of the emerging crypto technology.
SoftBank To Introduce Card to 22M Smartphone Subscribers
While the name SoftBank may not be a household name like a VISA or Mastercard, the company, headquartered in Tokyo, is the second-largest publicly traded company in Japan, behind Toyota.
The conglomerate owns a stake in major investment brands such as Arm Holdings, and Fortress investment Group, in addition to tech firms like Boston Dynamics, Yahoo Japan, and Uber. SoftBank also owns an 85% stake in Sprint and is a major telecommunications provider.
According to new data from SoftBank’s 2019 second-quarter revenue report, the company amassed over 22 million smartphone subscribers alone, not to mention the reach the rest of the brand enjoys across its investments, who will soon be exposed to cryptocurrencies through the company’s new cryptocurrency wallet card.