Xiaomi has no plans to integrate cryptocurrencies into its business – Bits Media

The Xiaomi Chinese technological giant adheres to a cautious approach to working with cryptocurrencies and is not ready to integrate digital assets in your business financial services.

Electronics maker Xiaomi is expanding its financial services business with diversification and transformation into a full -cycle lending platform. Business, which began with Internet services, now works in Hong Kong, India and China as an independent business.

Xiaomi works with Axis Bank, IDFC Bank, Aditya Birla Finance Limited, Money View, Early Salary and Credit Vidya to provide lending services. To offer Credit Cards Xiaomi, it was united with Stashfin, And insurance services are offered in partnership with ICICI LOMBARD.

Manu Kumar Jain (Manu Kumar Jain), Xiaomi Managing Director in India, Answering The Economic Times on the plans for the use of cryptocurrency to pay for Xiaomi products and integration in the Mi Credit service, said:

“We want to wait for all regulatory requirements. Of course, Cryptocurrency is an extremely interesting area, which is the most fashionable direction, And she has great prospects. But first we would like to learn more about its regulation ".

Earlier this month, Mi Store Portugal began to accept cryptocurrencies to pay for Xiaomi goods. However, the new payment options were deleted shortly after, as a representative of Xiaomi Guan Wei (Guan Wei) stated, that Mi Store Portugal is just a third -party intermediary.

“Information about that, that Mi Store Portugal accepts payments in cryptocurrency on foreign social platforms. Mi Store Portugal works independently at the local level and is not related to the work of Xiaomi. Mi Store Portugal is not an authorized Xiaomi representative in Portugal, And it works on its own ", - scazal guan wei.

The technological giant with headquarters in Beijing is forced to reckon with many normative obstacles in China. Despite, that Mi Store Portugal is not formally not an authorized Xiaomi representative in Portugal, The situation quickly outplayed.

“We would like to 100% comply with all local laws at all levels, whether it is the central government or city administration. Right now we have no plans for the use of cryptocurrency or any investment in this direction ", - said Jain.