Bitcoin becomes physical: Swiss company launches pilot sale of BTC 'tickets'

Tangem, a start-up operating from Switzerland and Singapore, launched a pilot sale of Bitcoin physical tickets (BTC), according to a press release published on May 3.

Tangem Notes, described in the press release as "smart notes" with a chip developed by Samsung Semiconductor, allows consumers to physically carry Bitcoin stored in denominations of 0.01 (about $ 96) and 0.05 BTC (about $ 482) ). The first pilot lot, consisting of 10,000 tickets, will be sent from Singapore to potential partners and distributors around the world.

According to the press release, the idea behind the creation of Bitcoin physical notes was partly to increase the ease of spending cryptocurrencies, "improving the simplicity and security of acquiring, owning and circulating cryptocurrencies."

Singapore has developed a reputation as a cryptocurrency center and blockchain development in Asia. Recently, the Fintech Association of Singapore and the Fintech Association of Japan signed a Memorandum of Understanding to collaborate in the development of Fintech. In addition, China and Singapore completed a shipment of gasoline using blockchain technology in early April. In March of this year, the central bank of Singapore reaffirmed its commitment to use blockchain for cross-border payments.