The official Portuguese shop of Chinese electronics giant Xiaomi has partnered with Utrust to unlock payments in five cryptocurrencies.
Chinese electronics manufacturer Xiaomi is the latest global company to get involved in the cryptocurrency industry as its official Portuguese shop now accepts Bitcoin (BTC) payments.
Mi Store Portugal, the official Xiaomi retailer, announced Wednesday on Facebook that it now allows customers to purchase devices using five cryptocurrencies, including BTC, Ether (ETH), Tether (USDT), Dash (DASH) and the Utrust (UTK) token.
According to the official Mi Store Portugal website, customers can now select the option to pay with crypto at checkout.
The new payment option is enabled through a partnership with Utrust, a European blockchain technology payment platform. “Xiaomi is the second-largest phone manufacturer in the world, and now their local branch is accepting the Money of Tomorrow,” Utrust’s official Twitter account said Wednesday.
According to data from global industry analysis firm Counterpoint, Xiaomi surpassed global smartphone giant Apple as the second-largest mobile phone manufacturer in the world 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.
— Utrust (@UTRUST) August 4, 2021
Phones, wearables, and more - Shop now: https://t.co/0WvYPgcpNa pic.twitter.com/LYd66aiX0A
Mi Store Portugal is the only official retailer of Xiaomi’s certified products in Portugal, operating under the European legislation, the company’s website notes. The firm currently has six physical stores nationwide and is in the process of expansion.
Related: New study reveals high demand for payments in cryptocurrency
Pedro Maia, marketing director of Mi Store Portugal, reportedly said that the company’s move to accept crypto payments aligns with Xiaomi’s striving for innovation. “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.’”
As previously reported, Portugal has been steadily growing as a cryptocurrency-friendly country in recent years, with the local government charging zero taxes from retail crypto trading. Earlier this year, a local energy trading firm started accepting Bitcoin as payment for electricity bills.
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