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Samsung Stores To Accept Cryptocurrencies In The Baltic States


Samsung Stores To Accept Cryptocurrencies In The Baltic States

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There was an announcement on Friday that the Samsung stores in the Baltic states will accept seven different types of cryptos for the transaction.

The customers who are shopping from the Samsung stores in Tallinn, Riga, Vilnius, and Kaunas will be able to pay in the digital currencies which includes: Bitcoin (BTC), dash (DASH), NEM (XEM), steem (STEEM), ripple (XRP), litecoin (LTC), and ethereum (ETH).

They have formed a partnership with CopPay which is a European payment processing firm for cryptocurrency paying customers. It is present among 31 merchants and now will help Samsung in the smooth transactions.

“There is a growing trend toward business digitalization and allowing customers to pay for goods and services in cryptocurrency, whether at global retailers or local restaurants,” says CopPay.

Estonia, Latvia, and Lithuania which are also known as the Baltic States are classified as high-income economies and thus they have broader acceptance towards the digital currency. Cryptocurrencies, for this reason, have been extremely popular in these states.    

Samsung additionally has demonstrated enthusiasm for blockchain innovation and it's well-known as the firm makes semiconductors for cryptocurrency mining gadgets. The organization's income had spiked essentially in 2017 because of semiconductor demand fastened to digital asset mining operations.

The transaction processor CopPay works in a similar manner to the firm Bitpay's platform and shippers are permitted to keep the digital currency from deals, trade it for fiat, or a mix of both.

The organization clarifies the other Samsung traders will likewise be including the crypto-payment feature through their system too.

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