A partnership with Utrust has enabled the official Portuguese shop of Chinese electronics giant Xiaomi to accept payments in five cryptocurrencies.
With the addition of Bitcoin (BTC) payments to its official Portuguese shop, Chinese electronics manufacturer Xiaomi has become the latest global company to become involved in the cryptocurrency industry.
Mi Store Portugal, the official Xiaomi retailer, announced on Facebook on Wednesday that it now allows customers to purchase devices using five cryptocurrencies, including bitcoin (BTC), ether (ETH), tether (USDT), dash (DASH), and the Utrust (UTK) token, in addition to traditional currencies.
In accordance with the official Mi Store Portugal website, customers will now be able to select the option to pay with cryptocurrency during the checkout process.
The new payment option has been made possible through a partnership with Utrust, a European blockchain-based payment platform that uses distributed ledger technology.
China’s Xiaomi is the world’s second-largest phone manufacturer, and their local branch has begun accepting the Money of Tomorrow, according to a tweet from Utrust’s official Twitter account on Wednesday.
According to data from global industry analysis firm Counterpoint, Chinese smartphone manufacturer Xiaomi surpassed global smartphone giant Apple to become the world’s second-largest mobile phone manufacturer in the second quarter of 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.
Phones, wearables, and more – Shop now: https://t.co/0WvYPgcpNa pic.twitter.com/LYd66aiX0A— Utrust (@UTRUST) August 4, 2021
According to the company’s website, Mi Store Portugal is the only official retailer of Xiaomi’s certified products in Portugal, and it operates in accordance with European legislation. The company currently has six physical stores throughout the country and is in the process of expanding.
Pedro Maia, marketing director of Mi Store Portugal, is reported to have stated that the company’s decision to accept cryptocurrency payments is in line with Xiaomi’s desire to be a leader in innovation. “We are a brand that is technologically advanced, innovative, and disruptive.”
That is why we strive to always be one step ahead of the competition. We want to provide all true technology enthusiasts with the opportunity to purchase their favourite gadgets using what is currently known as the “most technological money.”
Since 2014, Portugal has steadily increased its reputation as a cryptocurrency-friendly country, with the local government levied zero taxes on retail cryptocurrency trading. A local energy trading company began accepting Bitcoin as payment for electricity bills earlier this year.