China’s digital yuan looks closer than ever to launch with the news that Huawei will be supporting the central bank digital currency (CBDC) on an upcoming range of phones.
Announced on Huawei's Friday, The Mate 40 line of devices will feature a built-in hardware wallet with "hardware-level security, controllable anonymous protection, and dual offline transactions," the tech giant said.
It's the latest sign that the central bank digital currency, developed by the People's Bank of China, is likely to be technically ready for launch.
In recent weeks, a public trial in the city of Shenzhen saw 10 million digital currency， the digital yuan given away to residents in a kind of lottery.
Users could spend any winnings with a smartphone app at thousands of stores already set up with point-of-sale devices that can handle the digital currency.
The Mate 40 was announced in October and will be the latest flagship from Huawei, along with the Pro and Pro Plus models, according to TechRadar.
A release date is still unclear, but prices are expected to start at just over $1,000.
It's also not clear if devices shipped to other regions will sport the central bank digital currency wallet.
The views expressed in this article are the author's own and do not necessarily reflect the view of Amber Group. Amber Group shall not be held liable under any circumstances for any losses, damages or expenses arising from the use of any content mentioned in this article.
The information contained on this website is provided for informational purposes only, with no warranties, or guarantees made as to the accuracy, completeness or timeliness of it. Amber Group assumes no liability or responsibility for any errors or omissions in the information contained on this site. We strongly encourage you to conduct your own research before taking any action.
This site may contain copyrighted material, the use of which has not always been specifically authorized by the copyright owner. If you wish to use the copyrighted material from this site for the purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. Authors or publishers who claim ownership of copyrighted articles reprinted on this website and wish for the content to be removed may email us directly at email@example.com
If you would like to connect with us about any of the distributed content or other inquiries, please email us at firstname.lastname@example.org with the relevant documentation.