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The official Mi Retail store in Portugal has now started accepting payments in Cryptocurrency. This means that the customers can now purchase their favourite gadgets, smartphones, smartwatches, etc. in cryptocurrency during checkout.
Mi Store in Portugal will now accept payment in cryptocurrency in the country. On one hand, where Amazon informed that they are not accepting payments in cryptocurrency, Xiaomi is one such company that has accepted digital currencies payments with open arms.
Official Retailer in Portugal
The Chinese Manufacturer, Xiaomi’s Portugal retail stores, has recently taken this move. So, people can now purchase smartphones, smartwatches, vacuum cleaners, electric scooters and other Xiaomi products with Bitcoin, Ethereum, Dash and Utrust token (Utrust token is the native token of the blockchain company which will also be accepted by Xiaomi). The announcement was made via a social media platform by Xiaomi on Wednesday.
Xiaomi has partnered with Utrust, a European Blockchain technology platform. Customers will have the option to pay with crypto at the checkout. According to the Twitter account of Utrust, the blockchain firm has tweeted that Xiaomi is the second-largest phone manufacturer in the world, and the local branch is now accepting the money which is embraced by the people the world over.
Xiaomi has surpassed the global smartphone giant Apple and stands as the second-largest mobile phone manufacturer in the world in the second quarter of 2021. The data was revealed by global industry analysts firm counterpoint.
Mi Store is the official retailer of Xiaomi’s certified products in Portugal. The store is operating under European legislation. There are currently 6 physical stores nationwide and is looking to expand further.
Moving towards innovation
Marketing Director of Mi Store, Pedro Maia said that the company’s move to accept crypto payments is a move towards innovation. Xiaomi is a technology, innovative and disruptive brand. That is the reason that the company is always a step ahead. The company strives to provide the people’s favourite gadgets in the most innovative and the technologically savvy way by accepting payments in crypto.
Portugal has been accepting Cryptocurrency and is growing with a positive framework in recent years. The local government is also not charging any taxes from retail crypto trading. This shows that the country is progressing towards digital money. Earlier this year, a local energy trading firm started accepting payments in crypto for electricity bills.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
