Huawei to add crypto wallet in its App Store

Huawei will issue new mobile devices with a certain peculiar application pre-installed. The AppGallery - a catalogue similar to Google Play Store and Apple’s AppStore - will be introduced in the upcoming models and notably, a crypto wallet application based on BTC.com has already been included in it. The move comes amidst the ambiguous regulatory atmosphere in the home country of Huawei in comparison to the last year.

In the first half of 2017, the market of digital currencies was generally allowed in China: key components such as mining and cryptocurrency exchanges operated without permission, but there were no serious governmental obstructions before the fall of the same year. Since then, the sustainability of crypto business in China has become questionable, and Huawei’s decision to include the crypto-related app in the store which will certainly be used by a wide range of Chinese citizens is described by the press as ambitious.

Cryptocurrency-trading mobile applications are becoming a visible business trend: American companies Robinhood and Coinbase are its locomotives while there are also examples of similar, less capitalized projects in the Southeast Asia and Europe.

In countries like China and Russia this may mean more complaints from the regulators to the shop owners. The future legal status of digital currencies in Russia remains unknown at the press time. There have been some draft bills published online but they could have become obsolete by now.