Xiaomi Denies Authorizing Mi Store Portugal’s Acceptance of Cryptocurrency Payment

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(Source: International Arbitration)

A spokesman for Chinese technology giant Xiaomi announced via Weibo on Friday that Mi Store Portugal’s accepting cryptocurrency payment was not officially authorized. The third-party Portuguese store, which operates independently in the local area, has nothing to do with the operations of Xiaomi Group.

According to a previous report by U.Today, a blockchain and cryptocurrency website, Mi Store Portugal, a so-called “official retailer” of Xiaomi, recently began to support cryptocurrency payment.

The store had announced on its official social media account that from then on, users could purchase smartphones, vacuum cleaners, smartwatches, electric scooters and other Xiaomi devices with Bitcoin, Ethereum, Tether, Dash or Token Utrust, a native token developed by Utrust, a Swiss cryptocurrency payment services provider.

U.Today pointed out that Portugal is considered to be the most cryptocurrency-friendly country in Europe because of its tax policy, and it is not surprising that Xiaomi chose this country as a test platform for digital payment.

Pedro Maia, head of Portuguese marketing at Mi Store, said, “we hope that all true tech enthusiasts will be able to use the ‘most technical money’ at present to buy their favorite electronic devices.”

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According to a financial report by Xiaomi in the first half of 2020, its revenue from overseas markets exceeded 50% for the first time, and its smartphone sales ranked among the top five in 47 markets around the world.