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Huawei’s New Smartphone Has a Built in Hardware Wallet That Supports China’s CBDC

by CBDC Insider
October 30, 2020
in Asia
Reading Time: 1min read
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Huawei’s New Smartphone Has a Built in Hardware Wallet That Supports China’s CBDC
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According to reports, the Chinese technology giant, Huawei has launched a smartphone that has a built-in hardware wallet for China’s Central Bank Digital Currency (CBDC).

In a recent press conference, Yu Chengdong, Huawei’s CEO for the consumer business group, said that Mate 40 is the first smartphone that enables a hardware wallet for China’s digital yuan.

According to a Weibo post by Huawei, the Mate 40 will deliver hardware-level security with controllable anonymity for the digital yuan. As a physical DCEP wallet, it is also said to be capable of initiating transactions in offline environments.

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It remains unclear at this stage whether users of the Mate 40 will be able to directly convert any bank savings into the physical digital yuan wallet.

Read more: https://eng.ambcrypto.com/huaweis-new-smartphone-has-a-built-in-hardware-wallet-that-supports-chinas-cbdc/

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