LG could be working on building a crypto wallet, new patent filing shows

South Korean electronics giant LG could be working on developing a cryptocurrency wallet, according to a filing with the U.S. Patent and Trademark Office (USPTO).

LG filed an application last week for the trademark “ThinQ Wallet” for several uses such as “computer software platform for blockchain,” “mobile electronic wallet for cryptocurrency,” and “payment application software for mobile phones,” among others.

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Notably, LG already uses “ThinQ” trademark for its smartphone G7+.

The giant has been exploring blockchain technology since as early as 2017, when it was working on a finance platform using R3’s Corda software. Back in September, LG was also reportedly working on launching a blockchain-based overseas payments service.

LG rival Samsung already offers a cryptocurrency wallet for its Galaxy S10 smartphone. HTC’s blockchain phone EXODUS 1 also has a built-in hardware wallet called Zion Vault to secure crypto assets.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.

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