Date
25 May 2018
Huawei Technologies has partnered with BTC.com to launch a bitcoin wallet in the AppGallery app store.  Photo: CNSA/Reuters
Huawei Technologies has partnered with BTC.com to launch a bitcoin wallet in the AppGallery app store. Photo: CNSA/Reuters

Huawei enters crypto market, offers bitcoin wallet in app store

Huawei Technologies, in partnership with BTC.com, is offering users of its mobile phones access to a bitcoin wallet, Bloomberg reports.

From Friday, Huawei smartphone users can download the cryptocurrency wallet on their devices via Huawei’s AppGallery app store, said Alejandro de la Torre, BTC.com’s vice president of business operations.

Owned by mining hardware manufacturer Bitmain Technologies, BTC.com controls the largest bitcoin mining pool in the world.

The AppGallery is pre-installed on all new smartphones of Huawei and Honor (another Huawei brand), and will be launched on older devices in the upcoming months, de la Torre said.

The bitcoin wallet provides the user with a secure place to store the cryptocurrency, protecting it from hackers.

Huawei’s foray into the cryptocurrency space is likely to have a strong impact on the Chinese market, where the government has clamped down on trading platforms for virtual assets and initial coin offerings.

“It’s a good opportunity to tap into the Chinese market,” de la Torre told Bloomberg in an interview.

“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.”

Bloomberg reported in March that Huawei was considering developing a mobile phone that can run blockchain-based applications.

“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’s mobile services, said in a statement.

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