Honor to launch first smartphone with digital yuan wallet support

Honor to launch first smartphone with digital yuan wallet support

Chinese smartphone brand Honor will launch the first smartphone to support the digital yuan. This was reported by CoinDesk, citing a statement from the head of the company, George Zhao.

The new Snapdragon 888-based Magic 3 devices feature support for the People's Bank of China's digital currency hardware wallets. The Central Bank is convinced that such wallets provide increased security.

To recap, the PRC is actively developing the digital yuan. Last month, the Chinese central bank published its first digital currency white paper.

In June, it became known that Beijing authorities would distribute more than $6 million as part of testing the asset, and in August they fully integrated it into the payment ecosystem.

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