LG Electronics is reportedly releasing its inaugural crypto wallet application Wallypto in the third quarter of 2022.
Throughout August, the South Korean multinational electronics company has been working with developers, running a beta test of the application which is said to now be in its final verification phase.
Built on the Hedera Hashgraph blockchain, Wallypto currently supports Hedera’s HTS tokens with a view of expanding its list of networks and tokens alongside its official release.
Although the practical utility of the application is undecided, an LG official said it is preparing for the emerging use cases of blockchain.
The new crypto wallet may also have a function to link with some of LG’s electronic appliances and products linked on the company’s Internet of Things (IoT) platform LG ThinQ.
Although this is LG’s first step into developing a crypto wallet, earlier this year the electronics company announced its non-fungible token (NFT) platform features on its line of smart televisions, which was shortly followed by the same move from the rival company Samsung.