Honor to Launch First Smartphone With Digital Yuan Wallet Support

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Honor, a Chinese-based smartphone maker, has recently announced it is releasing the first smartphone with support for China’s CBDC digital yuan, CoinDesk has learned.

The smartphone, which will be sold with the name Magic 3, will have a Snapdragon 888 CPU and will be compatible with the People’s Bank of China digital currency.

The regulator believes this type of wallets are safe to use.

The central bank of China unveiled in July the white paper of its CBDC. Also, in June it become known that the Chinese authorities will give away over $6 million to test the asset.

The PBoC has asked companies to provide hardware devices compatible with its currency. So far, technological companies and banks are releasing their own devices, including ATMs.

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