Xiaomi has become the recent global institution that has reportedly begun accepting cryptocurrency payments in its stores located in Portugal. The company has recently decided to provide its customers with electronic payments from various popular digital currencies such as Bitcoin, Ethereum, Tether, Dash, or Token Utrust.
According to a recent update, the Chinese Tech giant has enabled cryptocurrency payment support for the purchase of various electronic products such as smartphones, smartwatches, etc that are offered by them.
Xiaomi has further partnered with UTrust, a Swiss cryptocurrency payment service provider, to support payments through digital assets in the region and had also adopted its native token to abide with consolidation.
Giving his views on Xiaomi’s recent action Pedro Maia, the head of Marketing at Mi Store, said that the firm is just trying its best to keep up with its motto which is Innovation for everyone.
He further added that,
We are a technologically advanced and innovative brand. That’s why we always try to be one step ahead. We want to give every true technology fan the opportunity to buy their favorite gadgets with their choice of either available crypto payments options or even the traditional ways.
What further led to this speedy acceptability system is Portugal’s tax policies which are known to be very crypto-friendly and this also has a great contribution in helping Xiaomi enabling a crypto-based payment system.
Even though being a Chinese company with tight regulatory control by the Chinese government the firm has succeeded in expanding its crypto-based operations.