Samsung has denied a rumor that has emerged on crypto-focused blogs claiming the firm would incorporate a cryptocurrency wallet into its upcoming Galaxy S10 smartphone.
The news was first reported by SamMobile, which explained that the new service would essentially include a cold wallet for saving the coins and crypto keys plus a dedicated wallet for viewing transactions.
The Seoul-based tech conglomerate said in private correspondence with CoinTelegraph the claims that it bakes a cryptocurrency product to be integrated into its Galaxy S10 are simply unfounded.
Despite the fact that several news publications reported on about the supposed integration, a Samsung spokesperson has denied the reports, saying “Unfortunately we are unable to provide any information as the below is rumor and speculation.”
The suggestion that the South Korean giant has plans for adding cryptocurrency software to its phones came to light on the Samsung community news sharing site after it filed three trademark applications with EU regulators. SamMobile claims that Samsung used terms such Blockchain KeyStore, Blockchain key box, and Blockchain Core which confirm its assumptions.
EuropeFX Partners with Acuity for AI-Powered News Sentiment AnalysisGo to article >>
Huawei, HTC already into the race
For now, Samsung is providing little detail about its crypto ambitions, though it is already engaged in the manufacturing of cryptocurrency mining chips.
Some competitors in the smartphone market have already revealed plans to enter the crypto space. Huawei, which is the third largest smartphone manufacturer in the world, announced a partnership with BTC.com which will allow users to download Bitcoin wallets through its app store — AppGallery.
The users of Huawei smartphones gained access to the pre-installed cryptocurrency app which is 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.
In addition, the Taiwanese electronics maker HTC has released its cryptocurrency-focused smartphone, the Exodus, in May.
With such major electronics manufacturers entering the race, 2019 could be just the start of a trend by all device makers to embed crypto features into phones to help increase sales among more tech-savvy consumers.