Although cryptocurrencies are becoming more popular and the demand for convenient storage for cryptocurrencies is increasing, only few companies announced their plans to integrate cryptocurrency wallets in smartphones so far. But now crypto wallets might appear in Samsung phones.

Crypto wallet for smartphone

The South Korean smartphone maker Samsung has filed three applications for trademarks related to the storage of cryptocurrencies in the European Union. According to the Dutch news portal Galaxy Club, patent applications contain three technologies called ‘Blockchain KeyStore‘, ‘Blockchain key box‘ and ‘Blockchain Core‘. This may indicate Samsung’s interest in creating a smartphone with an integrated cryptocurrency wallet.

In July, Joel Snyder, a senior IT consultant at Samsung, published a report stating that smartphones have advantages over laptops in terms of the security of cryptocurrency storage. This advantage exists due to the so-called Trusted Execution Environment (TEE), a secure area of the main processor, aimed at isolating certain commands from internal memory. This can increase protection against hacking and data theft.

At the same time, the corporation itself refutes the rumors that the new flagship smartphone Galaxy S10 will be produced with an integrated cryptocurrency wallet.

Two crypto smartphones on the way

Currently, there are two officially announced smartphones with integrated crypto wallets. They are Finney from Israeli startup Sirin Labs and Exodus from HTC.

Exodus shipments are expected in December 2018. The Exodus 1 is equipped with a six-inch screen, Snapdragon 845 processor, 6 GB of RAM and 128 GB of internal memory, as well as a 3500 mAh battery. The smartphone is equipped with two dual cameras. Official Exodus sales will begin in December. On pre-order, the smartphone costs 0.15 BTC or 4.78 ETH, which is about $950 at the current rate. Payments in fiat are not provided.

Finney smartphone may not appear on the market at all. Sirin Labs is now considering abandoning hardware altogether and refocusing on shipping software for other phone makers to use, Chief Executive Moshe Hogeg said in an interview with Bloomberg.