Multinational technological giant Huawei announced today that its newly-launched smartphone has a built-in wallet that will allow users to store, send, and receive China’s national digital currency.
Announcing the features of the Mate40 series in a Weibo post, the company said that the device is the first smartphone that supports the digital yuan via a hardware wallet.
The Chinese giant said in the post that users would enjoy hardware-level security while being able to control and protect their anonymity. Users can also conduct dual transactions using the new device, meaning they can also send and receive payments offline.
According to Huawei, the device guarantees a new safe and convenient payment experience for users.
To celebrate the launch of the smartphone, the company said it is giving out a free Mate40 Pro to the Weibo user who shares the post the most until November 6, 2020.
Huawei Partners China’s Central Bank
Huawei has been an active player in the blockchain industry, and the company continues to develop its blockchain capacities.
In November 2019, Huawei signed a strategic partnership with the digital currency research unit of the People’s Bank of China. After conducting a massive airdrop for the digital yuan last month, the country is now close to fully launching the new currency.
Samsung Leads Blockchain Smartphones
Meanwhile, Huawei is not the only company exploring new generation blockchain smartphones with built-in crypto wallets. The likes of LG and crypto exchange Houbi have also ventured into the blockchain smartphone market, with Samsung taking the lead.
Samsung released its first crypto-friendly phone in 2019, which provided support for BTC, ETH, and ERC-20 tokens. Since then, the South Korean multinational electronics mogul has been expanding its phones’ interaction with cryptocurrency and blockchain services.
In May, the company partnered with US-based crypto exchange Gemini to allow users to connect to the Gemini mobile app without having to log in again. In July, Samsung added Stellar and Decentraland to its Blockchain Keystore wallet.