China has banned crypto exchanges and ICOs, but this does not mean Chinese cannot own cryptos. Huawei has taken this into account and is going to offer owners of its phones to benefit from the emerging financial technology by installing a Bitcoin wallet.
Huawei is releasing BTC.com's Bitcoin wallet in its AppGallery, Bloomberg reported. The wallet appears to be the first crypto app provided by the world’s third-biggest handset maker. Huawei is going to preinstall the AppGallery on all new phones and roll it out to older devices.
“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,” Jaime Gonzalo, vice president of Huawei’s mobile services said in an interview to Bloomberg.
According to Alejandro de la Torre, BTC.com’s vice president of business operations, the use of cashless payments with apps is very big, and this is a good opportunity for crypto payments to grow.
Huawei is the biggest mobile phone seller in China, and this development is likely to have a huge impact on the market.