Huawei announced that its upcoming Mate40 smartphone series will include an integrated hardware wallet for the digital currency of the People’s Bank of China.
According to official Huawei news released on the Chinese Weibo website Weibo on October 30, this will be the first smartphone equipped with such a wallet.
The post also promises that users will be able to control and protect their anonymity and perform dual offline transactions. These features allow mobile phone users to transfer funds with just one touch of their device, even if they are all offline.
“The #HuaweiMate40# series is the first smart phone that supports digital RMB hardware wallets, hardware-level security, controllable anonymity protection, and dual offline transactions, bringing a new safe and convenient payment experience.”;
Huawei also provides free Mate40 Pro to Weibo users, who will forward posts to most people.
Mate40 is the first Huawei smartphone with 5nm chip technology, and it recently debuted on Apple’s iPhone 12. This technology allows billions of transistors to be packaged on a single chip, greatly increasing the potential power.
However, due to the ongoing trade war between China and the United States, once the existing inventory runs out, Huawei will not be able to buy or manufacture more Kirin 9000 processors.
According to reports, China’s digital renminbi is already in the testing phase as several countries are vying to become CBDC.
As reported by Cointelegraph, one of China’s main driving forces for accelerating its digital currency development is to deal with the impact of the US dollar in global trade.