By Shelly Melancon (Switzerland)
Cryptocurrency payments are now resonating in mainstream sectors, as digital assets garner unprecedented adoption in 2021. Chinese mobile phones and devices manufacturer, Xiaomi, joins the league of companies embracing crypto payments. As per a recent announcement, its Portugal subsidiary will now begin receiving crypto from its customers.
Mi Store is an official retailer of Chinese tech giant, Xiaomi in Portugal. Following the announcement from the store, Portuguese customers will have access to a wide range of mobile devices and appliances including smartphones, vacuum cleaners, smart watches and can make payments in Bitcoin, Ethereum, Dash and Tether (USDT). Mi Store, Portugal also brought Swiss crypto payment service provider, Utrust on board to allow crypto payments. The Portuguese store also accepts Utrust’s native token.
Xiaomi, Portugal Aims to Live Up to ‘Innovation for Everyone’ Mantra
While commenting on the new policy, Pedro Maia, marketing head at the store stated that Xiaomi aims to stand by its mantra, ‘innovation for everyone’ in the wake of its crypto payments foray. Xiaomi is recognized as one of the biggest smartphone manufacturers with massive markets in different regions, especially in West Africa, Nigeria. It recently beat iPhone device manufacturer Apple in smartphone sales, according to a data report.
Also read:“… we want to give the possibility to all true technology fans to buy their favorite gadgets with what is currently “the most technological money.”
Portugal Remains Friendly Toward Cryptocurrencies
Portugal fits as a suitable location for such innovation due to its friendly disposition towards cryptocurrencies. The European country first started making attempts at regulating the use and adoption of cryptocurrencies in 2018, and has developed a balanced tax policy on crypto assets. In another report, during the Dogecoin buzz, a real estate firm in the country announced that it would begin accepting Dogecoin payments from its clients.
In what would have been a milestone achievement for the crypto and digital payments sectors, a media report revealed that e-commerce behemoth, Amazon has embraced crypto payments in Bitcoin. However, the report was a flash in the pan, as Amazon issued a disclaimer later that the Bitcoin payments report is untrue. It is not unlikely that Amazon will make a U-turn on its decision, considering the growing interest in crypto payments globally.
Meanwhile, the latest innovation getting attention of late is the hybrid payments solution, which prompted a partnership between Binance Pay and Alchemy Pay, hybrid payments service provider. According to reports, leading crypto exchange Binance hopes to integrate its payment service into the latter’s, to provide its users with a wide range of crypto payments options. It would also ensure that they can receive payments in Bitcoin from anywhere around the world.
In no time, the world will witness more cryptocurrency adoption by service providers. Fiat payments have outlived its usefulness, as some people believe. Some experts think both sectors can co-exist.
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