Cryptocurrency exchange Huobi announced on Tuesday that it is moving into the hardware space, with the launch of an Android-based mobile phone in partnership with Whole Network.
The Singaporean firm is calling the phone, which it says runs on blockchain technology, ‘Acute Angle.’
“We think blockchain phones are a promising area for future blockchain industry development,” said Livio Weng, CEO of Huobi Global.
“As the industry develops and as innovations like 5G become increasingly integrated into our telecommunications systems, we believe more and more crypto communities will want to trade and transact from mobile devices.
“Given this, the need for devices optimized for blockchain seems clear. This move is our first step to meet those user’s needs.”
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China first, US and Europe later
Acute Angle is already available to some users in China but will be launched properly next week as part of the sixth Huobi Prime launch.
During that launch, Huobi will also be releasing NODE – the cryptocurrency it plans on using across its nascent, blockchain-based Whole Network.
If Huobi’s plans are successful, Acute Angle will be available to users across Southeast Asia by the end of this year. The group said it plans on expanding to Europe and the US after that.
The new phone will cost just over $500 and can be purchased with the exchange’s own cryptocurrency – Huobi Token.