Huawei's Mate 40 Phone to Ship With Digital Yuan Wallet

The upcoming Mate 40 line of devices will feature a built-in hardware wallet for China's central bank digital currency.

AccessTimeIconOct 30, 2020 at 10:36 a.m. UTC
Updated May 9, 2023 at 3:12 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

China's digital yuan looks closer than ever to launch with the news that Huawei will be supporting the central bank digital currency (CBDC) on an upcoming range of phones.

  • Announced on Huawei's Weibo channel Friday, the Mate 40 line of devices will feature a built-in hardware wallet with "hardware-level security, controllable anonymous protection, and dual offline transactions," the tech giant said.
  • It's the latest sign that the CBDC, developed by the People's Bank of China, is likely to be technically ready for launch.
  • In recent weeks, a public trial in the city of Shenzhen saw 10 million digital yuan given away to residents in a kind of lottery.
  • Users could spend any winnings with a smartphone app at thousands of stores already set up with point-of-sale devices that can handle the digital currency.
  • The Mate 40 was announced in October and will be the latest flagship from Huawei, along with the Pro and Pro Plus models, according to TechRadar.
  • A release date is still unclear, but prices are expected to start at just over $1,000.
  • It's also not clear if devices shipped to other regions will sport the CBDC wallet.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.