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Japanese financial services company SBI Group has invested USD 15 million in Swiss startup Tangem, manufacturer of a slimline hardware wallet for cryptocurrencies.

Designed to be used like a bank card and described to be a “smart banknote for digital assets", Tangem's product allows off-chain physical transactions to be performed (e.g. in-store payments) once cryptos have been loaded onto the device via an near-field communication (NFC)-enabled smartphone. The $15 million injection will help Tangem expand its technology to other areas such as stablecoins, ICOs, tokenized asset offerings, digital identity and more. ?

According to the president and CEO of SBI Holdings, Yoshitaka Kitao, SBI invested in Tangem because its "highly secure and affordable", and "is an important tool to promote mass adoption of digital assets and blockchain.” SBI also believes that "utilizing Tangem will help stimulate the demand for other blockchain services provided by SBI.” ??

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