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Honor Magic 3 Launches With Inbuilt Support For Digital Yuan – China.

Chinese smartphone brand Honor launches its first Snapdragon-powered handset to support the digital yuan, marking a milestone within the PBoC [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 made on Qualcomm’s latest Snapdragon chip, the 888, Honor CEO George Zhao outlined within the official event earlier yesterday.

In its latest technical paper, the central bank outlined that, unlike so-called soft wallets like apps, hardware wallets accompany hardware-level security.

The PBoC has been pushing for new hardware applications of the digital yuan; tech companies & banks have come up with new devices, along with ATMs and a hardware wallet on a walking cane.

The honor was Huawei’s budget smartphone brand until November last year when the Shenzhen giant sold it to save lots of it from United States sanctions.

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