Huawei Technologies Co. has decided to make Bitcoin (BTC) trading easier for its Smartphone-users. The Chinese multinational communications technology company announced that from May 10 onwards, users on the new Huawei devices will be able to download Bitcoin wallets through the AppGallery app store. It will be the first virtual currency app to be made available on the Huawei & Honor devices.
BTC Wallet Access Inbuilt On Huawei
The vice-president of business operations at BTC.com, Alejandro de la Torre, said that the Bitcoin wallet will be inbuilt in all the new Huawei Smartphones. This move can be considered a revolutionary step as in China, apps such as BTC.com have limited access as the government has blocked Google Play Store on Android and even some parts of Apple’s App Store. The Chinese authorities have already shut down cryptocurrency exchanges and blocked initial coin offerings. However, there is no ban on owning the digital assets.
According to De la Torre, “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.” BTC.com is owned by Bitmain Technologies, the mining hardware manufacturer and controls the largest Bitcoin mining pools in the world.
Move To Impact Chinese Market
Huawei is the biggest mobile phone seller in China. And now that it is making BTC wallets accessible on its devices, the move is sure to make a large impact on the Chinese market. And that is not all. The Chinese conglomerate is also planning to come out with a mobile phone that will target blockchain-based applications. The vice president of mobile services, Huawei, Jaime Gonzalo, said that since they lead in China, the company is expecting massive growth in global cryptocurrency adoption habits in the coming days.
Huawei announced the launch of BaaS – a Blockchain-as-a-Service platform last month. It focuses on smart contract development and offers high-availability, high performance, and high-security platform based on blockchain technology to the enterprises and developers. China is busy planning a dedicated nationwide blockchain policy which is expected to release by the end of next year.