The Chinese multinational company, Huawei Technologies Co., announced that its users will be able to download a bitcoin wallet on their new Huawei devices, starting on Friday, according to Bloomberg. The launching is expected to have a big impact in the Chinese market where the government has been imposing strict regulations on virtual currencies.
Huawei Launches New Bitcoin Wallet
The world’s third largest handset maker will be releasing BTC.com’s wallet in the AppGallery. Alejandro de la Torre, BTC.com’s vice president of business operations confirmed the information.
New phones will have integrated the App Gallery as soon as the client buys the phone. Old phones will require an actualization in order to have the App Gallery installed.
Mr. de la Torre said in an telephone interview with Bloomberg:
“It’s a good opportunity to tap into the Chinese market. 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 is important to mention that BTC.com is part of Bitmain Technologies, the world’s largest Bitcoin mining pool in the world. There is currently no competitor to this company that controls the cryptocurrency mining market.
Jaime Gonzalo, vice president of Huawei’s mobile services said:
“From our leadership position in China, the tip of the spear of mobile payments, we expect to see massive growth in global cryptocurrency adoption habits in the near future.”
China has taken very strict regulations to control cryptocurrencies, trading activities, and other bitcoin-related businesses. Indeed, in 2017 the Asian country totally banned ICOs. Fortunately, the government did not ban users from possessing cryptocurrencies. That would allow Chinese individuals to safely store their crypto-savings in their Huawei devices.
Other app markets like Google Pay Store and App Store have been partially blocked. Some of the sections of both app markets are not displayed in the Chinese country, and Huawei could be the first mobile phone manufacturer allowing Chinese citizens to have a bitcoin and virtual currency wallet in their mobile devices.