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.
Also read: China’s Digital Yuan Blurs the Lines Between CBDCs and Crypto
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