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Xiaomi to accept crypto payments in Portugal

Industry News

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The number of crypto-friendly companies seems to be growing here, as the Chinese technological giant Xiaomi has added digital assets to available payment options. This step currently concerns the Portugal department only, but the breakthrough is obvious.

According to the Mi Store Portugal announcement, holders of Bitcoin, Ether, Tether, Dash, and Utrust may purchase all the suggested gadgets with the help of digital currencies. Such a capability is unlocked due to the partnership with Utrust, the European blockchain-based crypto payment platform.

According to Pedro Maia, Head of Marketing, the solution to accept cryptocurrencies entirely matches the brand’s goal, as Xiaomi is steadily paving the path towards innovations.

Mr. Maia comments on the news, highlighting the brand’s course: “We are a technological, innovative, and disruptive brand. That’s why we always want to be one step ahead”.

What does it mean for the crypto community? Xiaomi is quite a powerful technological brand with a market capitalization of $85.59 billion. This number has doubled since August 2020. Furthermore, the year 2021 turned out to be crucial for the brand, as Xiaomi had overrun Apple according to sales volume. As of today, Xiaomi is the world’s second-largest retailer of smartphones.

Large companies understand that crypto payments open new horizons for their businesses, offering the head start in fiercely competitive industries. The overall number of crypto-friendly companies is over 17 000, and holders of digital assets may afford everything, from a smartphone to a Rolls-Royce car.

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