South Korea-based technology company LG Electronics is preparing to launch its Hedera-based crypto wallet application.
Earlier this year, LG announced it would add NFT platform features to its smart television products, following a similar move by rival Samsung Electronics. The company, which does not break its connection with the crypto industry, is making another move.
LG to Launch Crypto Wallet App Towards the End of the Year
LG plans to launch its first crypto wallet app called Wallypto in the third quarter of 2022.
According to the news in Forecast News, LG has been beta testing the application with developers since August and is in the final verification stage. Dubbed Wallypto, the crypto wallet uses the Hedera Hashgraph Blockchain base. It currently supports Hedera’s HTS tokens, but the supporting networks and token list are expected to expand after the official launch.
In addition to all this, Wallypto reportedly may be linked to some of LG’s electronic devices, such as products built on the company’s Internet of Things (IoT) platform LG ThinQ.
An LG official said:
“The company has yet to decide on the practical utility of the app, but is in the process of preparing for emerging technology use cases.”
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