Huawei’s New Phone Will Contain A Wallet For China’s CBDC

Huawei’s new phone will contain a wallet for the latest Chinese central bank digital currency as we are reading more in the latest cryptocurrency news.

The company revealed that Huawei’s new phone Mate40 will feature a wallet for the central bank digital currency of China that will be built in and allow users to store, send and receive the national digital currency. Announcing the features of Mate40 in a Weibo post, the company said that the device is the first phone which supports the digital yuan in the hardware wallet. The Chinese giant said in a post that the users will enjoy hardware-level security while still being able to control and to protect their anonymity. The users will conduct dual transactions using the new wallet which means that they can also send and receive payments offline.

According to Huawei, the device guarantees this is a new safe, and convenient payment experience for the users. To celebrate the launch of the new phone, the company said it will give out a free Mate40 Pro to the Weibo users that will share the post until November 6, 2020. Huawei is still an active player in the blockchain industry as the company continues to develop blockchain capacities. Back in 2019, Huawei signed a strategic partnership with the digital currency research unit of the Chinese Central Bank.

After conducting a huge airdrop for the digital yuan in September, the country is now getting closer to fully launching the new currency. In the meantime, Huawei is not the only company that explores new generation blockchain smartphones with built-in crypto wallets. The likes of LG and Huobi that ventured into the blockchain smartphone market but Samsung took the lead. Samsung released its crypto-friendly phone in 2019 which provided support for ETH and BTC and the ERC20 tokens. Since then, the South Korean electronics giant has been expanding its phone’s interaction with crypto and blockchain services.

The company also partnered with the US-based exchange Gemini to allow users to connect to the mobile app without having to log in again. Samsung also added Stellar and Decentraland to the Blockchain Keystore wallet. Also as reported, Huawei Cloud will work together with the Beijing Municipal government to create a blockchain governance platform to improve the city infrastructure.