Hong Kong-based Asia Nexgen Bitcoin Exchange has launched a mobile wallet app called ANX Vault for Android and iOS, allowing people to exchange Bitcoins and other digital currencies via QR codes.

While users can use the app to exchange Bitcoins and other cryptocurrencies, or decentralized digital currencies controlled by encryption, as they would cash, it can’t be used to pay for anything using the 11 national currencies the platform supports on its website. ANX CEO Ken Lo said this might change in the future, as he sees mobile payments via phones as something that supplant things like popular transportation cards. He referenced the Octopus Card, which is used to pay for public transportation in Hong Kong.

For now, mobile payments remain the domain of large players in the tech market like Google, whose Google Wallet can be used via Near Frequency Communication chips, and Tencent, which allows people to pay via WeChat QR codes. Lo’s vision of Bitcoin’s place in the market is a bit different.

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