MiStore Portugal’s Crypto Acceptance Decision didn’t go as planned

Digital currency lovers from Portugal were excited to learn that the MiStore in their region had announced it would accept cryptocurrencies for payment. The Mi Store sells Xiaomi brand smartphones and accessories and the retail store told its Facebook followers on August 5, it would accept bitcoin, ethereum, tether, and dash for payments.

However, the post has been deleted but a number of sleuths uncovered archived URLs and screenshots from the Mi Store Portugal’s social media channels. The Facebook post stated:

From now on, shopping at Mi Store Portugal is more inclusive and comprehensive because you’ll be able to buy your favorite gadgets using your electronic cryptocurrency or the most favorable one like bitcoin, ethereum, tether, dash, or the token utrust. Amazing isn’t it?

In addition to the Mi Store social media posts, the blockchain payments project Utrust which is the issuer of the utrust token, also tweeted about the Mi Store in Portugal accepting crypto assets. “Mi Store Portugal is now accepting crypto payments. Xiaomi is the second largest smartphone manufacturer in the world. Now, their local branch accepts the Money of Tomorrow. Phones, wearables, and more – Shop now,” the now-deleted Twitter post said.

Xiaomi Corporation Responds

It’s believed that Utrust and Mi Store Portugal removed these social media posts due to the parent company Xiaomi Corporation. The statement by the Chinese multinational electronics company Xiaomi Corporation stating that Mi Store Portugal accepts crypto assets for accessory and smartphone purchases was made. It is China’s largest smartphone manufacturer and India’s second-largest.

Both of these regions have a strong dislike for decentralized crypto assets. This year China, specifically, has been very harsh toward the cryptocurrency industry and bitcoin miners. Xiaomi’s statement, concerning Mi Store Portugal, indicates the firm was not notified of such decisions as the store is an autonomous satellite, and Mi Store Portugal’s acceptance does not reflect Xiaomi Corporation.

“Xiaomi Corporation wishes to clarify that “Mi Store Portugal” and the associated social media channels are managed by a third party store,” Xiaomi stated. “We respect and appreciate the legitimate autonomy of third-party shops, but the decision to accept cryptocurrency was made without our approval .'”

What do you think about the Mi Store in Portugal announcing it would accept crypto assets and Xiaomi’s follow-up statement? Please comment below to let us know your thoughts on this topic.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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