CHINA’S MOBILE PHONES TO GET BITCOIN WALLETS FROM TODAY

NEW phones will have Bitcoin wallets in a bid to tap the rising cryptocurrency markets in China.

The third largest phone market in the world, Huawei, has pre-installed the BTC wallets as standard on their new phones.

The move comes despite the Chinese government imposing strict rules regarding cryptocurrency dealings.

According to Bloomberg, the move will boost mass adoption as the mobile handset users will have the Bitcoin wallets on their devices.

Alejandro de la Torre the Vice president of BTC.com, said the wallet will be the first crypto app offered by Huawei’s App Gallery.

He told 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.”

As well as coming pre-installed on all Honor and Huawei devices, the wallets will also be rolled out on older devices in the coming months.

Chinese residents are not forbidden from owning BTC or other crypto coins despite a clampdown on exchanges.

BTC.com is the largest Bitcoin mining pool in the world and has been difficult to access by the Chinese citizens due to the government’s decision to block Google Play Store and sections of Apple’s iTunes. Huawei is releasing BTC.com’s Bitcoin wallet in its AppGallery. The company is also considering developing a mobile phone targeting blockchain-based applications.

“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 a statement in March.

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