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Samsung Introduced a Chip for Securing Crypto Transactions

South Korean company Samsung introduced a new solution for securing cryptocurrency transactions. According to a press release, the solution consists of an S3FV9RR chip and “enhanced” software.

The new chip is certified in accordance with the CC EAL 6+ standard, which is used in devices with the most stringent security requirements (including hardware cryptocurrency wallets). The chip can be integrated into any mobile device and it will work regardless of the main processor.

It is noteworthy that in the Samsung announcement, cryptocurrency transactions are mentioned as one of the main objectives of the development of the chip, which will become available in the third quarter of 2020.

Dongho Shin, senior vice president of marketing for Samsung Electronics, said: “Our smartphones and tablets will receive the highest level of personal data protection and security in mobile banking, trading and cryptocurrency transactions.”

In February, Samsung unveiled its latest Galaxy smartphone lineup with the new flagship S20, S20 +, and S20 Ultra. The new smartphones will also support the cryptocurrency wallet introduced in the Galaxy S10.

Author: Marko Vidrih

Featured image credit: Unsplash

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Marko Vidrih

Marko Vidrih

Most writers waste tremendous words to say nothing. I’m not one of them.

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