SHENZHEN – Huawei has released the world’s first bitcoin wallet at any application store for its users to hold virtual currencies in the smartphone.
The Chinese smartphone manufacturer collaborated with an online platform, BTC.com, to allow Chinese investors, developers and miners to add bitcoin wallet to its newly launched app store AppGallery.
The move comes as China has started a crackdown on speculative trading in the cryptocurrency market. Beijing has banned initial coin offerings (ICOs), but it is legal to own bitcoin or other cryptocurrencies in China.
“Cryptocurrencies have recently expanded the human understanding of digital economy at a large scale,From our leadership position in China, the tip of the spear of mobile payments, we expect to see massive growth in global cryptocurrency adoption habits in the near future,” Jaime Gonzalo, vice president of Huawei Mobile Services, said in a statement.
Mobile payments are quite popular in China due to Alibaba’s Ant Financial and JD.com’s JD finance offering digital payment services and lending services.
BTC.com, which also controls the world’s largest Bitcoin mining pool, is owned by mining hardware manufacturer Bitmain Technologies.
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The Bloomberg reported in March that Huawei is considering to develop a smartphone that will have blockchain applications enabled in it.
Last month, the company launched a blockchain-as-a-service (BaaS) platform that enables companies to develop smart contracts on top of a blockchain network for multiple use-case scenarios.
