Huawei launches first crypto wallet app on new smartphones

According to the news in Bloomberg, Huawei, a Chinese multinational communications technology company, in collaboration with BTC.com, unveiled a mobile cryptocurrency wallet for its newly opened app store AppGallery.

BTC. com’s senior official Alejandro de la Torre reported that the Bitcoin wallet will come pre-installed on all new Huawei smartphones.. The wallet will also be available for download for older devices in the coming months.

Access to apps like BTC.com’s is restricted as the Chinese government has blocked Android’s Google Play Store and parts of Apple’s App Store.. Chinese authorities have shut down cryptocurrency exchanges and banned ICOs, but people can still own cryptocurrencies.. De la Torre told Bloomberg:

“Good opportunity to enter the Chinese market. Cashless payments via apps are widespread and traditional banking system is lacking, so there is a good use case for cryptocurrency payments to grow in the Chinese market.”

Last March, Huawei’s Blockchain technology-based decentralized reportedly plans to develop a smartphone to support apps. Last year, Huawei shipped 91 million products to China, where it has a 20.4% market share.

Huawei’s global market share was announced as 11.8 percent in the first quarter of 2018.. Jaime Gonzalo, the company’s vice president of mobile services, stated that they expect to see massive growth in global cryptocurrency adoption in the near future.

Meanwhile, China plans to roll out standards on Blockchain technology nationwide by the end of 2019.. A special working group has reportedly begun work on the project.

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