A transaction verification method, wherein the method is applied to a first electronic device that comprises a secure element, SE, a trusted execution environment, TEE, and a rich execution environment, REE, and the method comprises: sending, by the REE, a first transaction request message to the TEE, wherein the first transaction request message comprises a transaction type of a transaction; executing, by the TEE, first service logic based on the transaction type to obtain a first verification instruction, wherein the first verification instruction comprises a to-be-verified digital signature; sending, by the TEE, the first verification instruction to the SE; verifying, by the SE, validity of the transaction based on the to-be-verified digital signature to obtain a first verification result, and sending the first verification result to the TEE; sending, by the TEE, a first transaction response message to the REE, wherein the first transaction response message comprises the first verification result; and when the first verification result indicates that the verification succeeds, sending, by the REE, a second transaction request message to a second electronic device based on a receiver identifier of the transaction, wherein the receiver identifier is used to indicate the second electronic device, wherein the TEE has stored at least one candidate data certificate; and the executing, by the TEE, first service logic based on the transaction type comprises: executing, by the TEE, the first service logic based on the transaction type and the at least one candidate data certificate, and wherein the data certificate comprises a currency certificate, the currency certificate comprises an original currency string or an original currency string and at least one transaction subchain, the original currency string comprises an amount of the original currency string, an issuer certificate, and an institution signature, and the transaction subchain comprises a subchain digital signature corresponding to the transaction subchain. sending, by the REE, a first transaction request message to the TEE, wherein the first transaction request message comprises a transaction type of a transaction; executing, by the TEE, first service logic based on the transaction type to obtain a first verification instruction, wherein the first verification instruction comprises a to-be-verified digital signature; sending, by the TEE, the first verification instruction to the SE; verifying, by the SE, validity of the transaction based on the to-be-verified digital signature to obtain a first verification result, and sending the first verification result to the TEE; sending, by the TEE, a first transaction response message to the REE, wherein the first transaction response message comprises the first verification result; and when the first verification result indicates that the verification succeeds, sending, by the REE, a second transaction request message to a second electronic device based on a receiver identifier of the transaction, wherein the receiver identifier is used to indicate the second electronic device, wherein the TEE has stored at least one candidate data certificate; and the executing, by the TEE, first service logic based on the transaction type comprises: executing, by the TEE, the first service logic based on the transaction type and the at least one candidate data certificate, and wherein the data certificate comprises a currency certificate, the currency certificate comprises an original currency string or an original currency string and at least one transaction subchain, the original currency string comprises an amount of the original currency string, an issuer certificate, and an institution signature, and the transaction subchain comprises a subchain digital signature corresponding to the transaction subchain. executing, by the TEE, the first service logic based on the transaction type and the at least one candidate data certificate, and wherein the data certificate comprises a currency certificate, the currency certificate comprises an original currency string or an original currency string and at least one transaction subchain, the original currency string comprises an amount of the original currency string, an issuer certificate, and an institution signature, and the transaction subchain comprises a subchain digital signature corresponding to the transaction subchain.