Since 2017, Tangem has focused on accelerating crypto adoption around the globe, using a blend of smartcard-based hardware and mobile applications to bring their dream to life. Over the past year, the Ledger challenger has come closer than ever before. Following a 738% increase in monthly active users since their product launch, Tangem has announced a complete product upgrade and methodical rebranding to capture a larger portion of the market.
Last year, Tangem received a VISA certification for its payment solution that integrates the payment card's chip with Tangem's applet, Tangem Pay. With this in place, customers will be able to use the applet to make payments at any of the 95 million VISA terminals globally after the launch of Tangem Pay next year. The bank card will be able to store public and private keys. When used for transactions, the card will generate a VISA payment message and a one-time password) will be produced to sign a transaction on the blockchain.
By creating this payment pathway, Tangem has become the first hardware cold storage wallet to offer real-time payments in cryptocurrency. When a user makes a fiat currency payment, the network will automatically deduct crypto funds from their account, make a conversion, and essentially pay by using crypto. With a fully transparent system and no intermediary parties, this allows users to take their cryptocurrency into the real world and begin buying services and products.
The one-of-a-kind hardware solidifies Tangem as a major competitor with other hardware wallets like Trezor and Ledger. Alongside the VISA certification for their applet, Tangem has announced several new features that seek to enhance the user experience on the app:
Tokens Sorting
Grouping Functionality
Dark Theme
Hide and Show Balances
Transaction History
24/7 Human Chat Support in Several Languages
Address Book for Repeat Transactions
Coupled with the new application features, Tangem is also rolling out a number of product design updates that will impact the website, cards, packaging, and mobile application.
Following the completion of a third-party firmware audit, the new Tangem application will launch on the 5th of October. Tangem aims to launch Tangem Pay throughout 2024.
