Huawei Technologies, one of the world's largest smartphone manufacturers, will begin selling mobile devices with pre-installed bitcoin wallets in China in the upcoming months, according to Alejandro de la Torre, BTC.com’s vice president of business operations. In a Bloomberg interview on Thursday, de la Torre revealed that existing Huawei users will be able to download BTC.com’s wallet to their devices beginning today.
WHY IS IT IMPORTANT
- BTC.com is confident that cooperation with Huawei and the release of this application will contribute to the growth of cryptocurrency payments.
- The demand for digital money in China is growing rapidly, despite the government’s efforts to shut down cryptocurrency trading. According to market participants, such demand heavily exceeds supply, and isn’t showing any signs of slowing down.
“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,” assured Jaime Gonzalo, vice president of Huawei’s mobile services.
According to de la Torre, this is a good opportunity for the company to occupy the Chinese market, since it is now obvious that traditional banking systems cannot cope with increased demand for non-cash payments through apps. This joint project between Huawei and BTC.com will allow Chinese citizens to get free access to cryptocurrency transferring applications. While the Chinese government does not prohibit citizens from owning cryptocurrencies, it has blocked access to any cryptocurrency and ICO-related websites within the mainland’s borders.
By Nadya Astam