Samsung Electronics announced on Friday that support for blockchain users trading virtual assets on their Galaxy smartphones has expanded amid growing interest in cryptocurrencies.

South Korean tech said the latest update will allow users to easily manage their transactions by importing their virtual assets stored on select wallets with cold hardware into the Samsung Blockchain Wallet, which is found on most Galaxy smartphones is available.

“Support for hardware wallets gives Galaxy Blockchain a consistent user experience in managing crypto assets from one convenient place,” said Samsung.

A hardware wallet refers to a cryptocurrency wallet that allows users to store their digital currencies offline.

The company said its Galaxy devices can now be connected to more hardware wallets, including the Ledger Nano S and X.

Samsung Blockchain Wallet users can also access cryptocurrency-related news, including articles from CoinDesk, one of the top blockchain news outlets, on the app, reports the Yonhap news agency.

Samsung was one of the largest smartphone manufacturers, bringing a cryptocurrency wallet to its smartphones starting with the Galaxy S10 in 2019. The blockchain wallet supports major virtual tokens, including Bitcoin and Ethereum.

Samsung’s mobile blockchain solutions are protected by the defensible Knox security platform.

The private key used for digital currencies and decentralized apps is encrypted and stored in an area isolated from the main operating system called the Samsung Blockchain Keystore.


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(Only the headline and image of this report may have been updated by Business Standard staff. The rest of the content is automatically generated from a syndicated feed.)

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