South Korea-based LG Electronics is reportedly preparing to release its first crypto wallet application named “Wallypto” in the third quarter of 2022.
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Fast facts
LG Electronics has been running a beta test of the application with developers since August and is in the final verification phase, local media reported Wednesday.
“Wallypto” is built on the Hedera Hashgraph blockchain and currently supports Hedera’s HTS tokens, but is expected to expand the list of supporting networks and tokens upon official release.
One LG official told local news agency News1 that the company has yet to decide the practical utility of the application, but is in the stages of preparing for the emerging use cases of blockchain.
Local media reported that “Wallypto” may be linked with some of LG’s electronic appliances such as products built on the company’s Internet of Things (IoT) platform LG ThinQ.
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