Xiaomi, the Chinese electronics manufacturer, has now become the latest global firm to get involved in the crypto space. Its official Portuguese shop now accepts Bitcoin (BTC) payments. The official Xiaomi retailer, Mi Store Portugal, announced on August 4 on Facebook that it now lets its clients buy devices using five cryptos, including Tether (USDT), Bitcoin (BTC), Ether (ETH), Dash (DASH), and the Utrust (UTK) token.
Mi Store Portugal partnered with Utrust to unlock these crypto payments. Based on a publication on the official website, users can now choose to pay with crypto at checkout. This new payment option is supported through the partnership of a European blockchain technology payment platform, Utrust. Utrust’s official Twitter account published on August 4:
“Xiaomi is the second-largest phone manufacturer in the world, and now their local branch is accepting the Money of Tomorrow.”
Based on some data acquired from Counterpoint, a global industry analysis firm, Xiaomi exceeded global smartphone giant Apple to become the second-biggest mobile phone manufacturer in the entire world in the second quarter of this year.
Utrust (@UTRUST) tweeted on August 4, 2021:
“Mi Store Portugal, the official Xiaomi retailer, now accepts #crypto payments! Xiaomi is the 2nd largest phone manufacturer in the world, and now their local branch is accepting the Money of Tomorrow.”
Currently, Mi Store Portugal is the only official Xiaomi retailer that is certified in Portugal, and it operates under European law, according to the company’s site. The company currently has six physical stores spread around the country and is now expanding its reach within Portugal.
The marketing director of Mi Store Portugal, Pedro Maia, allegedly said that the firm’s move to accept crypto payments aligns perfectly with Xiaomi’s striving for innovation. Maia commented:
“We are a technological, innovative, and disruptive brand. That’s why we always want to be one step ahead. We want to give the possibility to all true technology fans to buy their favorite gadgets with what is currently the ‘most technological money.’”
Based on previous reports, Portugal has been steadily growing as a crypto-friendly nation in recent years, with the local government charging zero taxes from all retail crypto trading operations. Earlier in the year, a local energy trading company began accepting bitcoin payments for electricity bills.