Tech giant Huawei recently disclosed that its Mate 40 smartphone series has a built-in crypto wallet for the digital yuan. The new smartphone enables dual offline transactions and allows users to control anonymity.
Huawei’s post on the Chinese microblogging website Weibo has revealed that the Huawei Mate 40 series is equipped with a digital RMB hardware wallet. Also, it features hardware-level security and controllable anonymity protection.
Additionally, Mate 40 is the first Huawei smartphone to utilize 5nm chip technology. Notably, the technology enables more transistors to be packed onto a single chip, invariably increasing the capability.
Yu Chengdong, Huawei’s CEO for the consumer business group, particularly notes that:
Mate 40 is the first smartphone that enables a hardware wallet for China’s digital yuan, known as DCEP.
It’s unclear at this stage if the users of Mate 40 are able to directly convert any bank savings into the wallet. However, Yu also notes that the feature is a step to expand the usage of digital yuan on the mobile front.
As per TechRadar, Mate 40 is the latest flagship from Huawei, along with the Pro and Pro Plus models. The release date is still unclear, but prices might start at just over $1,000.
China’s digital yuan is reportedly already in the testing stages, as several countries are battling to be the first to launch a central bank digital currency (CBDC). Huawei will support the CBDC on an upcoming range of its phones.
Recently, residents in Shenzhen city received 10 million digital yuan in a kind of lottery. Moreover, thousands of stores accepted the digital currency through point-of-sale (PoS) devices.