Huawei Supports Bitcoin Wallet App as China Cracks Down on Cryptocurrency
BTC.com app will come pre-installed with the recently launched P20 and P20 Pro smartphones.
Huawei, which is the third largest smartphone manufacturer in the world, has announced a partnership with BTC.com which will allow users to download Bitcoin wallets through its app store — AppGallery.
Soon, the users of Huawei smartphones will gain access to the pre-installed cryptocurrency app which will be available on their devices, no matter which part of the world they reside in. The app store already comes pre-installed with the recently launched P20 and P20 Pro smartphones.
Join the iFX EXPO Asia and discover your gateway to the Asian Markets
BTC.com is a web wallet created by Blocktrail and now owned by Bitmain Technologies, which sells Bitcoin miners using its ASIC chip technology. It also publishes an Android wallet, an iOS Wallet, a Bitcoin API, a block explorer and a mining pool.
China is unarguably the biggest cryptocurrency market in the world, but the government has been escalating its clampdown on the sector. Additionally, local app stores must register with the authorities as they sought to regulate the industry of app stores.
Suggested articles
Reclassifying Your Traders as "Pros" - How Can You Do It Right?Go to article >>
As such, the usage of Huawei’s new crypto features could be limited as the same apps on Google Play store are banned in the country. Before that, Apple was also made to take down some of their services from the Chinese market.
Earlier in March, Huawei was reportedly on the verge of making a significant step towards penetrating the blockchain space. Bloomberg said that the Chinese smartphone maker and telecommunications giant is in talks to license SIRIN LABS’ operating system and could reach an agreement in the coming weeks.
Commenting on the news, Jaime Gonzalo, vice president of Huawei Mobile Services, said: “Cryptocurrencies have recently expanded the human understanding of digital economy at a large scale…We expect to see massive growth in global cryptocurrency adoption habits in the near future.”
He added: “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. It’s a good opportunity to tap into the Chinese market.”
Leave a Reply