Xiaomi (OTC:XIACF) is the latest global institution to enable crypto payments on its ecosystem.
The Chinese company’s official retailer in Portugal, Mi Store, has started accepting cryptocurrency payments. The Portuguese outlet disclosed its plans on social media noting that:
From now on, shopping at Mi Store Portugal is more inclusive and comprehensive because you’ll be able to buy your favorite gadgets using your election cryptocurrency or the most favorable one like Bitcoin, Ethereum, Tether, Dash, or Token Utrust. Amazing isn’t it?Customers can now purchase gadgets such as smartphones, vacuum cleaners, smartwatches, and other devices with a variety of digital tokens, including Bitcoin and Ethereum.
Xiaomi has also partnered with UTrust and adopted its native token in a bid to consolidate its support for digital assets.
The head of marketing at Mi Store, Pedro Maia, suggested that Xiaomi is only trying to live up to its motto which stated “Innovation for everyone.” He explained:
We are a technological, innovative, and disruptive brand. That's why we always want to be one step ahead. 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’s tax policies are very crypto-friendly, and this appears to be the main reason why Xiaomi chose the country as its testing ground for crypto payments. Ironically, despite being a Chinese company, China's government has continued to tighten its grip on cryptocurrency activities.