telecommunications conglomerate SoftBank has released a new bank card that
includes a built-in blockchain wallet, in addition to traditional debit card
According to a press release on Dec. 1, SoftBank developed a debit card featuring a built-in blockchain wallet called SBC Wallet Cards and can be used either as a traditional debit card or blockchain wallet. The blockchain wallet that will work both as a hot and cold wallet: When the WiFi function is on, it will operate as a hot wallet; while when it is off, it will operate as a cold wallet.
Users can access local currency when using the card’s credit card function and electronic payment service in order to eliminate block confirmation time, and receive timely redemption and payments. Users can also exchange using bitcoin, or other currencies, also stored in the card’s internal, encrypted wallet system.
According to Softbank, the onboard battery is designed to last up to three years in order to power the internal functions.
The SBC Wallet Cards have received strong support from local businesses in Japan, where it is in initial release as of Nov. 27. More than 10,000 merchants in Japan have signed up to allow payments by cardholders at their stores.