The anticipated Huawei Mate40 smartphone will feature a digital wallet for China’s digital yuan. This was revealed in a post by microblogging website Weibo on the 30th of October. As noted in the post, the Mate40 smartphone would be the first of its kind to integrate a hardware wallet for the digital yuan.
The report further revealed that users would be able to control anonymity and carry out “dual offline transactions.” In other words, users will be able to transfer funds by holding their phones against each other.
“HuaweiMate40 series is the first smartphone that supports digital RMB hardware wallet, hardware-level security, controllable anonymity protection, dual offline transactions, bringing a new safe and convenient payment experience.”
The Mate40 series include Mate40 (8G+128G), Mate40 Pro (8+128G), and the Mate40 Pro+.
Also, Huawei is yet to officially declare a release date for the new Mate40 series. Weibo said that the starting price for the new series is 4,999 yuan.
In addition, a Weibo user who forwards the post to the highest number of people would be receiving a free Mate40 Pro from Huawei.
The newly-announced feature on Huawei’s Mate40 series suggests that China’s central bank digital currency (CBDC), the digital yuan, is close to its launch. The digital yuan is currently in its testing stages.
About 2 million residents in Shenzhen volunteered to participate in the digital yuan experiment. Since China started working on a CBDC in 2014, the experiment is the first time the country would publicly test the digital yuan.
Image Credits: Pixabay
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