Huawei Adds Bitcoin Wallet In App Store

Announcements, News | May 11, 2018 By:

Huawei smartphone users will soon be able to download bitcoin wallets on their devices.

BTC.com has announced that its bitcoin wallet has been added to Huawei’s app store, AppGallery. The app store was launched in March and will be pre-installed on all new Huawei and Honor phones. It will be rolled out to older devices in the coming months. The BTC.com wallet, which allows users to send, receive, and store bitcoin and Bitcoin Cash, will be the first crypto app offered by Huawei, the world’s third-biggest mobile phone maker.

The move will likely have the most impact in the Chinese market, where Huawei is the biggest smartphone seller. While Chinese authorities shut down crypto exchanges and banned initial coin offerings (ICO), people are not forbidden from owning bitcoin or other cryptocurrencies.

“It’s a good opportunity to tap into the Chinese market,” Alejandro de la Torre, BTC.com’s vice president of business operations, said in an interview with Bloomberg. “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.”

The top smartphone maker by Chinese sales last year was Huawei, with shipments of 90.9 million and a market share of 20.4 percent, up from 16.4 percent in 2016. For the fourth quarter of 2017, Huawei topped Chinese sales, with shipments of 24.3 million and a market share for the quarter of 21.3 percent, up from 16.8 percent in Q4 2016.

“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 of this year, it was reported that Huawei is considering developing a smartphone that will be able to run blockchain applications. Last month, the company announced the launch of a blockchain-as-a-service (BaaS) platform to enable companies to develop smart contracts on top of a blockchain network for several use-case scenarios.