Xiaomi in Portugal accepts Bitcoin payments

Xiaomi in Portugal accepts Bitcoin payments
The official Portuguese store of the Chinese electronics giant- Xiaomi has partnered with Utrust to unlock payments in 5 different cryptocurrencies.

Chinese electronics manufacturer Xiaomi is the latest global company to become involved in the cryptocurrency industry as its official Portuguese store now accepts Bitcoin (BTC) payments.

Mi Store Portugal, an official Xiaomi retailer, announced on Facebook on Wednesday that it now allows customers to buy devices using five cryptocurrencies, including BTC, Ether (ETH), Tether (USDT), Dash (DASH) and the Utrust token (UTK).

According to the official website of Mi Store Portugal, customers can now choose the cryptocurrency payment option at the checkout.

The new payment option is made possible by a partnership with Utrust, the European blockchain payment platform.

“Xiaomi is the second largest phone manufacturer in the world and now their local branch accepts Money of Tomorrow,” Utrust’s official Twitter account said on Wednesday.

According to data from global industry analysis company Counterpoint, Xiaomi overtook the global smartphone giant Apple as the second largest mobile phone manufacturer in the world in the second quarter of 2021.

Mi Store Portugal is the only official reseller of Xiaomi certified products in Portugal, operating under European legislation, the company’s website notes. The company currently has six retail stores across the country and is in the process of expansion.

Pedro Maia, marketing director of Mi Store Portugal, reportedly said the company’s drive to accept cryptocurrency payments is in line with Xiaomi’s drive to innovate. “We are a technological, innovative and groundbreaking brand. That is why we always want to be one step ahead. We want to give all true tech fans the opportunity to buy their favorite gadgets for what is currently “the most technological money”.

Portugal is growing as a cryptocurrency friendly country with local authorities charging zero taxes on retail cryptocurrency trading. Earlier this year, a local energy trading company began accepting Bitcoin as payment for electricity bills.

09-08-2021, Mr Advice TEAM

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