A Swiss-based manufacturer of hardware cryptocell Tangem announced it will release “the physical blockchain-Bank notes” for the upcoming launch of a national digital currency of the Marshall Islands. About it reported in a press release.

According to the startup, these “blockchain banknotes” will be used for storing national digital currency Sovereign (SOV). The latter is intended to be alternative means of payment on the territory of the Pacific States and taken along with the U.S. dollar.

For a new means of payment is inherent in the “controlled mechanism of issue and circulation on the territory of the country.” The bill will be in the form of a physical card equipped with microprocessor. Tangem also note that validation of transactions will be instant, and payments — beschislennymi and does not require Internet connection.

We will remind, about plans of the Marshall Islands for the production of national cryptocurrencies became known less than a year ago. Last autumn the international monetary Fund opposes plans to issue such payment instrument, citing the unstable economy in the country and its dependence on the United States.

ForkLog also recently reported that the Singapore startup Tangem received a $15 million investment from Japanese SBI Crypto Investment.