New Bitcoin Wallet In App Store Released By Huawei, Pre-Installed On All New Smartphones

Huawei Technologies Co. is one of the leading technology giants and producers of smartphones manufactured in China. Aside from this, the company is active in the crypto field – which is best proven by their recent move.

The company recently announced that mobile phone users will be able to download a Bitcoin  wallet app on the new Huawei devices starting from this Friday. The report came from Bloomberg yesterday (May 10th).

Huawei decided to release a BTC.com Bitcoin wallet in its AppGallery store. The wallet will be pre-installed on all new Huawei smartphones, according to the vice president of business operations at the company, Alejandro de la Torre. Also, this will be the first digital currency app ever available on Huawei devices.

Meanwhile, the crypto situation in China is quite limited. The Chinese authorities decided to shut down cryptocurrency exchanges and banned initial coin offerings (ICOs). However, people can still own cryptocurrencies.

According to De la Torre:

“It’s a good opportunity to tap into the Chinese market. The use of cashless payments with apps is very big and the traditional banking system is lacking, so there’s a good use case for crypto payments to grow there.”

In March this year, Huawei reported that it is planning to develop a smartphone that will support decentralized applications (DApps) running on the blockchain. Meanwhile, Huawei’s global market share went up 11.8% in the first quarter of 2018. The vice president of the company’s mobile services said:

“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.”

Last month, Huawei also announced the launch of a Blockchain-as-a-Service (BaaS) platform that will focus on smart contract development.