Honor, a smartphone maker in China, has released the first series of Snapdragon-processor phones that support digital yuan. The launch of these mobile phones can be considered as one of the achievements of the People’s Bank of China to provide access to the hardware that supports this digital currency.
to the Report According to CoinDesk, according to George Zhao, CEO of The Magic 3, The Magic 3 supports the Yuan Digital Hardware Wallet. This mobile phone uses a Snapdragon 888 processor.
In the latest version of China’s national digital currency watt paper, the People’s Bank of China has stated that hardware wallets can create a new level of security for users. Previously, digital yuan was only stored on software wallets such as mobile apps.
In recent months, as pressure from the People’s Bank of China increased its supply of hardware equipment for the digital yuan, some companies have developed devices such as ATMs for China’s national digital currency.
By November 2020, Honor would be building Huawei’s budget mobile phones. Huawei was forced to sell Honor following US sanctions against the company.