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LG, the South Korean electronics giant, is currently developing a cryptocurrency wallet app that will be launched later this year. The wallet, called Wallypto, will be part of a new business phase for the company, which recently abandoned its mobile hardware business and pivoted to software solutions. Wallypto will support only Hedera Hashgraph assets at launch.
LG to Enter the Cryptocurrency Wallet Business
More and more tech and traditional finance companies are putting funds behind crypto-based businesses and operations. LG, the South Korean tech conglomerate, is getting into the cryptocurrency service business. According to reports from local media, the company is developing a new software cryptocurrency wallet, called Wallypto.
This development is part of the company’s strategy to diversify its product portfolio, as it pivots to include new activities. LG abandoned its mobile hardware division on July 2021, and is now moving to software and other platforms.
The wallet, which
LG to Enter the Cryptocurrency Wallet Business
More and more tech and traditional finance companies are putting funds behind crypto-based businesses and operations. LG, the South Korean tech conglomerate, is getting into the cryptocurrency service business. According to reports from local media, the company is developing a new software cryptocurrency wallet, called Wallypto.
This development is part of the company’s strategy to diversify its product portfolio, as it pivots to include new activities. LG abandoned its mobile hardware division on July 2021, and is now moving to software and other platforms.
The wallet, which
A Russian bank, one of the country’s largest by assets, has conducted a successful trial with digital ruble transactions processed through its mobile app. The state-owned Promsvyazbank was one the institutions placed under Western sanctions earlier this year in connection with Moscow’s actions in Ukraine.
Russian Bank Experiments With Digital Ruble Transfers via Mobile Application
Promsvyazbank (PSB) is one of the first Russian lenders to join the trials of the central bank digital currency (CBDC) issued by the Bank of Russia. According to a report by the business news outlet Plus Journal, the bank has recently tested digital ruble transactions through its app for mobile devices.
To carry out the operations, participants had to pass a registration in the application and set up a digital wallet. Then, using their account, they were able to exchange regular electronic bank money for digital rubles and transfer digital cash to other clients of the bank as well as those of other banks taking part 👆👆👆
Russian Bank Experiments With Digital Ruble Transfers via Mobile Application
Promsvyazbank (PSB) is one of the first Russian lenders to join the trials of the central bank digital currency (CBDC) issued by the Bank of Russia. According to a report by the business news outlet Plus Journal, the bank has recently tested digital ruble transactions through its app for mobile devices.
To carry out the operations, participants had to pass a registration in the application and set up a digital wallet. Then, using their account, they were able to exchange regular electronic bank money for digital rubles and transfer digital cash to other clients of the bank as well as those of other banks taking part 👆👆👆