December 12, Samsung has denied rumors that the South Korean electronics giant is about to offer a cryptocurrency cold wallet on its upcoming Galaxy S10 smartphone.

The rumor was first posted by Samsung community news sharing site SamMobile. According to the original news report, the firm had filed three trademark applications with EU regulators for blockchain and cryptocurrency software including the Blockchain KeyStore, Blockchain key box, and Blockchain Core.

SamMobile believed that these trademarks support the assumptions of Samsung is developing its own cold wallet which may be launched with the Galaxy S10. The news site further alleged that Samsung’s cold wallet app would enable users to import their existing wallets from third-party services like Metamask or TrustWallet and it would initially support cryptocurrencies including Bitcoin, Ethereum, Ethereum-derived token ERC20, and Bitcoin Cash. However, all these information transpired not to be true.

Soon after, a spokesman from Samsung refuted all these assumptions in a private correspondence with Cointelegraph.

“Unfortunately we are unable to provide any information as the below is rumor and speculation.”

As of now, the South Korean giant hasn’t exposed much of its ambitions in crypto field although the firm has already engaged into crypto mining industry by launching its 7-nanometer (nm) LPP (Low Power Plus) that uses extreme ultraviolet (EUV) technology.

Samsung SDS, the internet technology subsidiary of Samsung Group has also put a lot of efforts in blockchain development and launched its own blockchain-based certification platform named BankSign.

It is also worth noting that, some of Samsung’s competitors also plan to enter the crypto space. For example, the Taiwanese electronics maker HTC has launched its crypto-focused smartphone Exodus in this May.

In addition, Huawei, the world’s third largest smartphone manufacturer has collaborated with BTC.com to enable users to download Bitcoin wallets in its app store AppGallery.

Major electronics manufacturers are working hard on developing more advanced products in order to stand out from the rat race. Although Samsung hasn’t disclosed any development plan in crypto area by now, we cannot exclude the possibility that the tech giant decides to enter this industry one day.