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.
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.
