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Honor, a Chinese smartphone manufacturer, has announced the Magic 3, the company’s first smartphone to support the digital yuan. During a press conference, Honor Zhao Ming’s CEO announced this.

Chinese technology businesses began developing gadgets to support and distribute e-CNY on the Celestial Empire’s realm yesterday. The People’s Bank of China has previously indicated that technical projects popularizing Chinese coins are welcomed. As a result, its officials offer substantial assistance to the country’s banks, building ATMs in the country’s major cities to facilitate financial transactions using the digital yuan.

The project’s whitepaper also mentions that the major distinction between hardware wallets and software wallets (for example, programs for your gadgets) is integrated security measures at the hardware level. This enables them to give a higher level of security for their consumers’ monies.

The Magic 3 is powered by a new Qualcomm Snapdragon 888 CPU, making it one of the most productive smartphones on the market. In China, the premium edition of the smartphone will cost 7999 yuan, or $1235 at current exchange rates, while the entry-level Magic 3 would cost buyers 4599 yuan, or $710.

Huawei spin-off Honor responds to US blacklist threat during launch of the  Magic 3 smartphone with digital yuan wallet | South China Morning Post
Honor CEO George Zhao unveils the new Magic 3 flagship smartphones running on Qualcomm Snapdragon chips.

Recall that in early August, the Beijing authorities announced that the Chinese CBDC had been integrated into the payment environment for more extensive testing.

Given the rapid growth of the Chinese stablecoin, the Honor handset might soon be joined by dozens of other devices from prominent manufacturers, including Xiaomi, Huawei, and a slew of others.

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