Cheetah Mobile, a Beijing-based app developer, announced on Thursday that it's releasing an app aimed to make it simpler for investors to monitor their cryptocurrency portfolios.
Dubbed Coin Master, the mobile app – available for both iOS and Android – will track the real-time prices of cryptocurrencies on over 100 exchanges and automatically calculate overall losses or profits after users update their trading histories.
The company said investors are able to update their portfolios either by inputting their transaction information manually, including both fiat-to-crypto and crypto-to-crypto transactions, or linking the app with the wallets or exchanges on which they store the assets.
Cheetah Mobile's senior vice president, Edward Sun, said the new product allows cryptocurrency investors to "check the status of their assets anytime, anywhere."
Publicly traded on the New York Stock Exchange, Cheetah Mobile was rebranded from Kingsoft Security in 2010 and is a subsidiary of Kingsoft, one of the oldest and largest software companies in China. Notably, the firm's vice chairman is Lei Jun, the well-known Chinese entrepreneur who founded electronics manufacturer Xiaomi.
The app release follows Cheetah Mobile's entry into the cryptocurrency space in January, when it launched a wallet app for Android and iOS devices.
Additionally, Tong Huashun, a widely used stock tracking and trading app in China, briefly rolled out a cryptocurrency price tracking service last month, but later appeared to have removed the feature – possibly due to regulatory uncertainties in China.
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