Huawei and BTC.com to Give Chinese Users Easier Access to Bitcoin
Huawei and BTC.com to Give Chinese Users Easier Access to Bitcoin
Huawei Phones to Offer Easy Access to BTC.com Bitcoin Wallets
12 May, 2018, 10:46
In the near future, Huawei Technologies Co. will allow its users to download a Bitcoin wallet on their devices starting on Friday. It will be accessible via its phones' AppGallery - which is pre-installed on all newHuawei and Honor phones, will begin to appear as older devices update over the coming months. Nonetheless, BTC.com's de la Torre recognizes "the unbelievable opportunity cryptocurrencies have in replacing fiat currency as the currency of choice for mobile payments" in China.
He added: "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". This was revealed by business operations vice president at BTC.com, Alejandro de la Torre.
Huawei is already the best-selling mobile provider in China, and the third-biggest worldwide.
With the recent announcement, the partnership between Huawei and BTC.com would crack into the mobile payment market, previously dominated by Alipay and Tencent (WeChat) who single handedly constitute more than 90% of all mobile payments.
BTC, which is owned by mining giant Bitmain, tracks cryptocurrency mining and block information, while also providing a digital wallet service.
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Mobile payments are extremely popular in China, with companies like Alibaba's Ant Financial and JD Finance providing users digital payments and lending services.
BTC.com is the first bitcoin wallet accepted into Huawei's recently-launched app store.
However, access to Google Play Store as well as some parts of iTunes are blocked by the Chinese government and thus downloading apps from the likes of BTC.com is limited. With the recent clampdown on cryptocurrency exchanges, Huawei's move could enable people to own digital currencies easily. It offers a digital wallet, mining pool, API, and explorer. Huawei, the world's second largest phone manufacturer, is also planning to develop a smartphone that will support blockchain-based decentralized applications (DApps).
BTC.com's wallet spearheads a consumer focused and open financial system that has introduced over a million new users across the world to Bitcoin and Bitcoin Cash.
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