Chinese language electronics producer Xiaomi has denied the corporate’s involvement in a transfer by a Portuguese Xiaomi store to start out accepting Bitcoin (BTC) funds.

Mi Retailer Portugal, a Xiaomi retailer within the nation, introduced Wednesday on Fb that it now permits prospects to buy units utilizing 5 cryptocurrencies, together with BTC, Ether (ETH), Tether (USDT), Sprint (DASH) and the Utrust (UTK) token.

A spokesperson for ​​Xiaomi subsequently reacted to the information on Chinese language social media platform Weibo, stressing that the Mi Retailer Portugal shouldn’t be instantly associated to Xiaomi’s operations. “We’re involved in regards to the info that Mi Retailer Portugal accepts digital forex funds on abroad social platforms,” the particular person mentioned. The consultant added that Mi Retailer Portugal is a “third-party approved companion” and operates independently in Portugal.

Mi Retailer Portugal subsequently eliminated the announcement on Aug. 6, additionally having taken down the associated info from its web site, beforehand stating that its prospects had been in a position to choose the crypto fee possibility at checkout.

The brand new fee possibility is enabled by way of a partnership with Utrust, a European blockchain expertise fee platform. “Xiaomi is the second-largest cellphone producer on this planet, and now their native department is accepting the Cash of Tomorrow,” Utrust mentioned in a now-deleted tweet revealed on Wednesday.

The agency didn’t instantly reply to Cointelegraph’s request for remark. Mi Retailer Portugal’s web site nonetheless signifies Utrust as a fee companion alongside Visa and PayPal on the time of writing.

Based on knowledge from world business evaluation agency Counterpoint, Xiaomi surpassed world smartphone large Apple because the second-largest cell phone producer on this planet within the second quarter of 2021. Mi Retailer Portugal is the one official retailer of Xiaomi’s licensed merchandise in Portugal, working underneath the European laws, the corporate’s web site notes. The agency at present has six bodily shops nationwide and is within the technique of enlargement.

Associated: New study reveals high demand for payments in cryptocurrency

Pedro Maia, advertising director of Mi Retailer Portugal, reportedly said that the corporate’s transfer to simply accept crypto funds aligns with Xiaomi’s striving for innovation. “We’re a technological, progressive, and disruptive model. That’s why we at all times need to be one step forward. We need to give the chance to all true expertise followers to purchase their favourite devices with what’s at present the ‘most technological cash.’”

As beforehand reported, Portugal has been steadily rising as a cryptocurrency-friendly nation lately, with the native authorities charging zero taxes from retail crypto buying and selling. Earlier this 12 months, a neighborhood vitality buying and selling agency started accepting Bitcoin as fee for electrical energy payments.

In distinction, China has emerged as one of many world’s greatest anti-crypto international locations, renewing a nation-wide crackdown on both cryptocurrency mining and crypto trading earlier this 12 months.

Disclaimer: This text was up to date to replicate Xiaomi’s official assertion denying the corporate’s involvement with Mi Retailer Portugal beginning accepting Bitcoin funds.