LG is working on launching its own cryptocurrency wallet

The South Korean company LG Electronics has announced that it will release the Wallypto cryptocurrency wallet in the fall. The developers are already completing beta testing of the program and will launch the final version of the wallet after checking the bugs.

The Wallypto program is designed for the Hedera Hashgrap blockchain. Initially, it will only support HitCoin (HTS) tokens, but in the future, the developers plan to expand the list of networks and cryptocurrencies.

LG has not yet disclosed all possible options for how the wallet can be used. It is likely to be used for various digital projects of LG Electronics, including support for the LG ThinQ IoT platform. Back in March, the company announced that it would explore the prospects of blockchain and cryptocurrencies for its work. Currently, LG is actively reorganizing unprofitable business lines and launching new ones.

Another tech giant, Samsung, is planning to set up a cryptocurrency exchange in South Korea. Initially, the opening was scheduled for 2023, but later Samsung representatives said that the launch would be accelerated and take place this year. The developers of the exchange promised that users will be able to use the platform to invest in both cryptocurrencies and fiat tokens. The developers also plan to ensure maximum protection of digital assets of exchange users from hacker attacks.