Xiaomi Portugal stores now accept Bitcoin and other cryptocurrencies as payment

On Thursday, August 5, blockchain and cryptocurrency industry information website U.Today reported that Xiaomi's Portuguese store began accepting the world's top three digital currencies and other cryptocurrencies as a means of payment.

Xiaomi Portugal Store stated on its official social media page that from now on, the shopping experience at the Portuguese Mi Store will become more inclusive and comprehensive, and users can use Bitcoin, Ethereum, Tether, Dash and Token Utrust, the native token developed by Swiss cryptocurrency payment service provider Utrust, to buy Xiaomi products.

Analysts pointed out that this highlights that Xiaomi, which has recently surpassed Apple in the smartphone market, is "stepping up its support for digital assets." Local consumers may be able to use the above-mentioned cryptocurrencies to purchase Xiaomi's smartphones, vacuum cleaners, smart watches, electric scooters and other devices.

Pedro Maia, Mi Store’s head of marketing in Portugal, noted that Xiaomi’s foray into the cryptocurrency space is part of its mission to “enable everyone in the world to enjoy a better life brought by technology”:

"We are a brand that blends technology, innovation and disruption, which is why we always want to be one step ahead. We want to make it possible for all true tech lovers to buy their favorite electronic devices with the 'most tech money' currently available."

U.Today pointed out that Portugal is considered the most cryptocurrency-friendly country in Europe due to its tax policies, so it is not surprising that Xiaomi chose the country as a test platform for digital asset payments.

At the same time, Samsung, the "leader" in the smartphone market, built a blockchain wallet into its then flagship phone Galaxy S10 as early as February 2019, which can support Bitcoin and Ethereum, but the company's stores have not yet accepted cryptocurrency payments.

The digital currencies that Xiaomi Portugal stores will accept include the top three in the industry by market value - Bitcoin, Ethereum and the stablecoin Tether, which is pegged to the US dollar. Although Dash is only ranked 59th in the cryptocurrency market, it is modeled after Bitcoin and focuses more on ease of use and scalability. The acceptance of Utrust tokens should be mainly due to the fact that the issuer behind it is Xiaomi's cryptocurrency payment partner.