IDEX Biometrics and Reltime to launch next-generation Web3 biometric card
World’s first biometric card of its kind supporting digital assets and identification, and EMV payments
OSLO, Norway, August 9, 2022—IDEX Biometrics ASA and Reltime AS are pleased to announce a strategic partnership to jointly develop and market the world’s first next-generation, Web3 biometric payment card including cold storage and digital asset wallets, combined with digital identification. This all-in-one, EMV compliant biometric payment card is anticipated to reach the market in the first half of 2023. The biometric solution based on IDEX Biometrics sensor technology will enable EMV1 compliant payments alongside Reltime’s global Web3 financial ecosystem’s unique “check-out” feature. Securing fiat and digital asset transactions with an extra, secure layer of authentication, the smart card will also include other unique features.
The Web3 market is estimated to reach USD 81.5 billion in 2030, with rapid advancements in blockchain technologies as well as a shift in data ownership towards users as key drivers2.
Furthermore, working in tandem the companies plan to offer several white-labelled B2B2C solutions, including Reltime’s FastTrack to Web3, which can be offered to financial institutions, telecommunications companies, fintech firms, and other parties that wish to enter the Web3 space.
“Reltime is delighted with this new strategic collaboration with IDEX Biometrics,” says Peter Michel Heilmann, CEO of Reltime. “We see unlimited potential and opportunities by bringing this important, biometric, Web3 feature to Reltime’s Layer 1, Proof of Authority ecosystem in 150 countries. With this truly unique card, we are, in fact, solving three of today’s challenges facing our global financial tribe of people and businesses—cold storage, payments and identity—giving them peace of mind from being hacked, scammed, or ripped off. The card also fits perfectly in our FastTrack to Web3 offering, providing companies with thousands of clients and large organisations with millions of customers the opportunity to enjoy the same benefits that Reltime’s current global, trusted, high-performance, Web3 platform is bringing to market.”
“The IDEX Biometrics collaboration with Reltime creates new opportunities for payment cards and digital authentication, bringing additional markets and new revenue streams,” says Vince Graziani, CEO of IDEX Biometrics. ”We are looking forward to working with Reltime to jointly develop and bring to market more innovative biometric technology solutions in response to evolving consumer demand for all-in-one smart cards and solutions safeguarding digital assets, and securely storing them offline.”
1 Short for Eurocard, Mastercard, and Visa.
2 CAGR (2021-2030): 43.7 per cent. Source: Emergen Research, Web 3.0 Market.
For further information, contact:
Marianne Bøe, Head of Investor Relations
Tel.: +47 918 00186
Brett L. Perry, U.S. Investor Relations
Tel.: +1 214 272 0070
About IDEX Biometrics
IDEX Biometrics (OSE: IDEX and Nasdaq: IDBA) is a leading provider of fingerprint identification technologies offering simple, secure, and personal authentication for all. We help people make payments, prove their identity, gain access to information or unlock devices with the touch of a finger. We invent, engineer, and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast-growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com
Reltime is the world’s first global, Layer 1, Web3 financial ecosystem. Headquartered in Oslo, Reltime is building a new global financial tribe of people and businesses eager to take back control of their finances. Reltime members are able to send, receive, withdraw, deposit, borrow, lend, earn, swap, interact, transact and open joint accounts within the Web3 financial ecosystem in 150 countries. They can also create their own ecosystem within Reltime. In addition, the company offers disruptive and cutting-edge white-labelled B2B2C and Web3 embedded finance (FastTrack to Web3) solutions to partners around the world. Reltime has listed its RTC token on several global digital asset exchange platforms, including BitMart and CoinTiger, and has subsidiaries in Norway (Conax Technology AS, established in January 2010), Lithuania and El Salvador. #MoreThanMoney
For more information, visit www.reltime.com
IDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. Reltime and the Reltime logo are trademarks owned by Reltime AS. All other brands or product names are the property of their respective holders.