Tuesday, April 23, 2019

Samsung and Opera Cryptocurrency Wallets to Encourage Bitcoin’s Global Adoption

Samsung, a South Korean tech giant and Opera Software, a Norway-based company behind the Opera mobile and desktop browsers, are setting the pace for other companies when it comes to cryptocurrency. Not only that, the latest features incorporated into their products will foster the adoption of virtual currencies by institutional investors.

Leaked Images of Galaxy S10 Features Cryptocurrency Wallet

As BTCNN reported on January 24, some leaked images of the unreleased Samsung Galaxy 10 shows that the smartphone features a cryptocurrency wallet. The image revealed that the storage currently supports Ethereum and therefore, users of the smartphone will be able to securely store this virtual currency.

BTCNN on December 13 informed of Opera’s latest Android browser, Web 3.0 which features a cryptocurrency wallet. While the wallet currently allows the storage of ERC20 tokens, assets based on other network standards may be incorporated in the future. Also, people in Scandinavian countries can now buy cryptocurrencies directly from Opera due to the new feature that was recently launched on the mobile app.

Charles Hamel, Opera Product Lead for Crypto who spoke with CCN said:

“We think that the next important phase for crypto will come from usage and that for it to reach wider adoption, it has to be easy to buy and easy to use. We believe that the browser will be the entry point for these use cases.”

Impactful Developments of the Cryptocurrency Market

The implication of these developments is a significant impact on the crypto market. Samsung, for instance, whose digital wallet is led by Samsung pay, has millions of active users. Opera, on the other hand, reportedly has over 180 million users across the world. That being the case, their large user base will help to spread the message about cryptocurrencies and even entice those who may have been reluctant to invest in the past.

Alternatively, there are institutional investors who can also impact the performance of digital assets because more money will be pumped into the market. This can be attributed to the effort of the two companies who are leaders in their respective industries. It will also encourage other smartphone brands to do the same, as well as web browsers due to the high level of competition.

Facebook May Also Launch a Cryptocurrency Product

Asides these two, there’s a lot more to look forward to. Facebook recently acquired its first Blockchain company which is believed to be geared towards launching a product based on this modern technology. Before its purchase, the social media company was rumored to have 40 Blockchain experts working with them.

Also worthy of note, is the fact that Fidelity Digital Assets, a subsidiary of Fidelity Investments on January 31 announced the final testing of its crypto custody platform. The latter is from a financial services company who works with 13,000 financial institutions. As such, this may give institutional investors the confidence to buy into these markets despite the unfortunate events of Cryptopia’s hack and QuadrigaCX’s inaccessible funds.

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