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Honor Releases First Snapdragon Smartphone With Digital Yuan Wallet
The PBoC has been pushing for hardware applications of the digital yuan.
Chinese smartphone brand Honor released the first Snapdragon-powered handset to support the digital yuan, marking a milestone in the People's Bank of China's goal to develop hardware for the digital currency.
- The Magic 3 will support a digital yuan hardware wallet, and is built on Qualcomm's latest Snapdragon chip, the 888, Honor CEO George Zhao said during the release event yesterday.
- In its latest white paper, the central bank said that, unlike so-called soft wallets such as apps, hardware wallets come with hardware-level security.
- The PBoC has been pushing for new hardware applications of the digital yuan; tech companies and banks have come up with new devices, including ATMs and a hardware wallet on a walking cane.
- Honor was Huawei's budget smartphone brand until November 2020, when the Shenzhen giant sold it to avoid U.S. sanctions.
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From May 20 to May 29, XRP funds took in $35 million while bitcoin and ether ETFs lost roughly $2 billion combined, with Ripple’s earlier reported XRP treasury plan still awaiting confirmation.
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- U.S.-listed spot XRP ETFs drew $11.88 million in net inflows on May 29, extending a week of gains even as bitcoin and ether funds saw continued redemptions.
- Total net assets in U.S. XRP ETFs now stand near $1.12 billion, with about $35 million added since May 20 while bitcoin and...
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