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Mi Store Portugal’s decision to accept Bitcoin, Ether, other cryptos unrelated to Xiaomi

Xiaomi explained that the Portuguese retailer is a third-party authorized partner, which operates independently from the Chinese smartphone manufacturer.

Xiaomi MI 9 / Image by: Wikimedia Commons

Mon, 09 Aug 2021, 11:12 am UTC

Xiaomi has officially denied involvement over a Portuguese retailer’s decision to accept crypto payments including Bitcoin (BTC) and Ether (ETH) for its products. The company explained that the retailer is a third-party authorized partner which operates independently from the Chinese smartphone manufacturer.

On Wednesday, Mi Store Portugal announced on Facebook that customers can use crypto to pay for purchases, according to Cointelegraph. The Portuguese Xiaomi retailer added that it accepts five cryptocurrencies and buyers can pay for device purchases by using Bitcoin, Ether, the stablecoin Tether (USDT), Dash, or the Utrust (UTK) token.

“We are a technological, innovative, and disruptive brand. That’s why we always strive to be one step ahead of the curve,” Mi Store Portugal head of marketing Pedro Maia said at that time, according to BTCManager. “We want to make it possible for all true tech lovers to buy their favorite gadgets with the most technological money.”

However, the Chinese phone manufacturer expressed concern about the issue and denied any involvement in the Portuguese retailer’s decision to accept crypto payments. “Today we are concerned about the information that Mi Store Portugal accepts encrypted digital currency payments on overseas social platforms,” Xiaomi said on its Weibo account on August 6.

The company explained that it has no control over the retailer’s operations. “After investigation, the information was released by Mi Store Portugal, a third-party authorized partner of the Mi Store Portugal, which is independently operated locally and is not related to the operation of Xiaomi,” the smartphone maker added.

On August 6, Mi Store Portugal also removed its Facebook post announcing the crypto payment option. The retailer updated its website, removing its previous statement that informed customers to select the crypto payment option at checkout.

Mi Store Portugal partnered with the European blockchain payment platform Utrust to enable the crypto payment option. “Xiaomi is the second-largest phone manufacturer in the world, and now their local branch is accepting the Money of Tomorrow,” Utrust said in a tweet on Wednesday, which is now deleted.

Portugal is known as a crypto-friendly country that does not impose taxes on retail crypto trading. On the other hand, China is known for its crackdown on crypto trading and mining, which forced Chinese BTC miners this year to relocate elsewhere.

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