LG Electronics is releasing a cryptocurrency wallet.

The South Korean electronics giant LG Electronics is introducing "Wallypto," a cryptocurrency wallet app, as part of aspirations to broaden the scope of its business to encompass platforms and software.

"By mixing blockchain technology with existing flagship enterprises like home appliances and electric fields, it is also projected to actively create synergistic effects."

This month, developers plan to run a beta test of Wallypto. This year is expected to see its final release. The report mentioned: It is most likely to be issued in the third quarter, at the earliest, or by the end of the year, at the latest, after going through the final verification procedure to catch system flaws.

"Wallypto," which runs on the Hedera Hashgraph blockchain, now supports Hedera HTS tokens, but once it is released, more cryptocurrencies are anticipated to be added.

Earlier this year, LG Electronics made it known that it intended to broaden its business mission to embrace new industries such as blockchain, cryptocurrencies, and medical devices.Shareholders approved these modifications at the company's Annual General Meeting (AGM), which took place in March. As a result, according to Blockchain.News, the company's new objectives now include the development and sale of blockchain-based software as well as the brokerage and sale of cryptocurrencies.

In addition, the electronics giant debuted smart TVs with an NFT option in February of this year after partnering with the Kakao Ground X blockchain platform.