LG Electronics Might Release a Cryptocurrency Wallet Later This Year

The major South Korean electronics company, LG, has revealed that it is creating a cryptocurrency wallet that will be released later this year.

A cryptocurrency wallet software is being developed by LG Electronics and will be released later this year. The wallet, Wallypto, will be a component of the company’s new commercial phase. The company recently stopped selling mobile hardware and switched to software-based solutions. At first, the wallet will only accept Hedra Hashgraph assets.

The program would assist the electronics giant to seriously enter the blockchain field, according to local South Korean news outlet News 1. The statement says:

It is also expected to actively create synergy effects by combining blockchain technology with existing flagship businesses such as home appliances and electric fields.

Later this month, Wallypto’s creators are anticipated to run a beta test. The report also said:

After going through the final verification process to catch system errors, it is likely to be released in the third quarter at the earliest, or within the year at the most.

The Hedera Hashgraph blockchain will power Wallypto, which will also handle HTS tokens. Upon launch, it’s anticipated that the wallet will support more cryptocurrencies. Since the wallet will let users register and check their NFTs, NFT support will also be provided.

Wallypto’s debut comes soon after LG’s rekindled interest in cryptocurrencies. At the most recent shareholder meeting for the company, LG outlined its business focus on blockchain technology, covering the areas of software development and sales as one of its potential business extensions.

At CES 2022, the largest home appliance and IT expo in the world, the corporation also disclosed its intentions to implement an NFT platform on its televisions earlier in the year.

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