Bitcoin banknotes, a new product designed to spread crypto adoption, has been launched in Singapore by Swiss developers. The notes range between 0.01 and 0.05. The developers hope to make the process of digital transactions accessible and easy to anyone.
The pilot banknotes are equipped with NFC chips, which further streamlines the user experience, making it suitable for everyday use. The company claims that the banknotes are compliant with the Common Criteria EAL6+ and EMVCo security standards, which makes it unique among the hardware storage devices.
The users of the banknotes will be able to make offline payments without any fees. This unique feature actually has some potential to convince typically conservative people to try cryptocurrencies, as absolutely no prior knowledge is required for using the new Bitcoin banknotes. The first pilot batch of devices will consist of 10.000 notes, and more will be manufactured if the product gets a warm reception. Tangem has offices both in Switzerland and Singapore and focuses on blockchain technology adoption and implementation.