LG Electronics, based in South Korea, is reportedly preparing to release its first cryptocurrency wallet in 2022 called “Wallypto”. It will be based on Hedera Hashgraph blockchain technology.
Fast facts about Wallypto
- A beta test of the application has been running since August, and the company is entering the final verification phase, according to local media reports.
- “Currently, Wallypto is only compatible with HTS tokens supported by Hedera Hashgraph blockchain, but will be able to support other networks and tokens upon official release.
- In an interview with local news agency News1, a LG official said that the company has yet to determine its practical utility, but is preparing for emerging blockchain application scenarios.
- There are reports in local media that “Wallypto” may be connected to LG’s Internet of Things (IoT) platform LG ThinQ, as well as some of the company’s electronic appliances.
- LG Electronics announced this year it would create smart televisions with non-fungible token (NFT) capabilities, following a similar move by Samsung Electronics.
- The world’s biggest seller of home appliances, LG Electronics, registered sales of 27.11 trillion Korean won (about $20 billion) last year.
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