It is "unlikely" that Razer will issue its own cryptocurrency, but it might accept it as payment for its hardware and services.

Jae Chia  |  SG
Published 2021-06-03 13:55:11

According to a report by The Business Times, global lifestyle and gaming firm Razer is “carefully evaluating” a potential entry into the cryptocurrency space.

Min-Liang Tan, CEO of the Hong Kong-listed firm said in a presentation this week that there is a nascent opportunity for Razer in the cryptocurrency space, given the wide reach of its Razer Fintech unit.

In a Twitter post, he said that Razer users are interested in cryptocurrency, but the company is “concerned on the impact it has on graphics processing units (GPUs) and the environment.”

razer cryptocurrency
Screenshot from Razer CEO Min-Liang Tan’s Twitter

However, he also mentioned that the cryptocurrency space is something Razer is exploring now.

In a follow-up tweet, he said that it is “unlikely” that Razer will issue its own cryptocurrency, but he would not rule out the firm accepting one or more of the other currencies out there for its hardware and services.

He also ran a poll on Twitter, asking his followers if they would be “for, against or undecided” if there was a cryptocurrency out there that does not use GPU mining and is environmentally friendly.

Screenshot from Razer CEO Min-Liang Tan’s Twitter

He received a total of 1,967 votes, with 71.3 per cent of participants for the idea.

If Razer does go ahead with its expansion into cryptocurrency, it will join the ranks of firms like DBS Bank, which has recently launched a trust solution for cryptocurrencies via the bank’s wholly-owned trust company, DBS Trustee.

Other than DBS, Apple, one of the world’s largest technology consumer company, has recently started to hire a business development manager with experience in the cryptocurrency industry.

Cryptocurrency and blockchain technology is a key content pillar for Vulcan Post. You can find the rest of our cryptocurrency coverage here.

Featured Image Credit: Digital Trends

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