Fresh out of its funding round of funding, Tangem a Swiss-born startup is now moving their headquarter back to Zug, famously known as the Crypto Valley. Tangem received funding to the tune of US$ 15 million from renowned Japanese investor SBI Group.
Tangem produces physical smart cards that functions like the hardware wallet version of banknotes. Each of these smart cards carries a fixed amount of cryptocurrency. The company intends for these smart cards to be used for daily crypto payments by the masses.
The startup has already previously started distributing their smart cards in Singapore earlier last year.
Andrey Kurennykh CEO, Tangem, commented
“It is the big mission of Tangem to bring the application of blockchain technology to people’s everyday lives. Our technology can help many industries really benefit from blockchain tech and make life of individuals safer and better through financial inclusion and access to the decentralized payment solutions.”
As part of the Crypto Valley community as well as through local resources and partnerships, Tangem is getting one step closer to that goal.
Mathias Ruch, CEO of CV VC recognizes the added value that Tangem is adding to the Crypto Valley ecosystem:
“Tangem is a globally operating company and is bringing an impressive network from Asia to Zug, which can also be seen in the contribution from SBI.”