GD Entertainment and Technology (GDET), a cryptocurrency mining firm, has acquired DreamCard for an undisclosed amount.
The deal marks GDET’s foray into cryptocurrency-backed ‘white-label’ credit and debit card market.
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DreamCard offers stylistic personalisation and material upgrading of payment cards from plastic to metal. The firm allows customers to design their own card using its online builder.
Bringing blockchain to the mainstream
GDET said it intends to combine its expertise in the crypto and blockchain sector with DreamCard’s experience in metal cards.
The company is also planning to develop and introduce a crypto-backed, RFID-protected, personalisable metal payment card by the first quarter of next year.
GDET CEO Anil Idnani said: “It’s not surprising that the management-level integration process has been so seamless. We all share the same vision on a very deep level. Blockchain is tomorrow’s future and we plan on being industry leaders on all fronts.”
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By GlobalDataGDET also revealed that it aims to design the new card for enabling everyday purchases similar to a bank-issued debit and credit card.
DreamCard CEO, Maximillian Hellerstein said: “Almost immediately, we saw huge potential ahead, but we were wading into unfamiliar waters and needed a partner with expertise in crypto and blockchain.”
GDET has started integration of DreamCard into its operations and strategic vision.
