- LG is all set to launch a digital wallet in the end of this year.
- The LG wallet will be based on blockchain technology.
- LG has applied for registration of Wallypto.
The wallet, which is more likely to be introduced at the end of this quarter, looks to launch LG to the crypto storage industry. As per the appeal filed before the U.S Patent and Trademark Office, the wallet will be an exclusive downloadable computer software for utilizing as a virtual wallet.
LG applied for registration of Wallypto.
In line with the USPTO appeal, the wallet will cope up and check crypto transactions using blockchain technology and will come under inventory management for crypto exchange. LG has chosen to keep silent over the media’s constant poking and reports and introduction of Wallypto.
News 1, a news agency of South Korea, validated the growth, stating it will launch LG to blockchain Non-Fungible Tokens. “After examining the final validation process to identify system errors, it will probably be released in the third quarter in the beginning or within the year, at the earliest.” the report of News 1 further added.
Wallet to run on Hedera (HBAR)
The wallet is reportedly being constructed on the Hedera (HBAR) technology due to the membership of the company in the governing council but will accept different currencies in the inevitable future.
LG electronics is popularly known for smart TVs that back digital experience. It has now shifted to carry blockchain technology experiences to the real-world utilizing decentralized identity technology. In 2019, it introduced a Visa and Mastercard LG payment.
In March, shareholders of the company organized an annual general meeting and witnessed the factor of crypto changes and the appearance towards Web3 developments.
LG is not the only biggest tech from South Korea that is splitting into the crypto space. Its closest competitor, Samsung, has shifted intrusively to take the first position in the electronics market by introducing Galaxy 10 series that backs the Non-Fungible Tokens and metaverse space. It has also introduced a wallet key for its Galaxy series of smartphones and a television that supports NFTs.
Source: https://www.thecoinrepublic.com/2022/09/03/lg-to-introduce-digital-asset-wallet-wallypto/