It is being reported that Samsung is now accepting crypto and blockchain payments across its stores in three Baltic states. Eastern Europe is already a major player in the crypto industry and one of the most evolving regions in the crypto-sphere, so it’s probably not so surprising that Samsung is testing the water here.
As major corporations and banking institutions are now clamoring to be a part of the crypto industry, it seems that the giant electronics company, Samsung, is already one step ahead of the competition by accepting crypto and blockchain payments.
Testing the waters with crypto and blockchain payments
The news that Samsung is now accepting crypto and blockchain payments in several of its Baltic stores is not really that surprising as the electronics giant tests the waters. The payments will be made using the Lithuanian-based payment platform, CopPay.
CopPay announced the news today that their customers in Tallinn, Riga, Vilnius and Kaunas across the Baltic nations of Latvia, Estonia and Lithuania will be able to purchase electronic products across Samsung’s stores with crypto. This is great if you are from these countries and want to buy phones, tablets, laptops, TVs and more with your bitcoin stash.
Samsung is a massive company and a multinational conglomerate, and news they are now trying out crypto and blockchain payments in the Baltic region is major news for the industry. They will be accepting the payments in all manner of cryptocurrencies such as the standards ones that include bitcoin, ether, litecoin and XRP, but also in other coins such as dash, NEM and steem.
Taking retail crypto transactions to the next level
The capital city of Lithuania, Vilnius, currently has three Samsung stores that will accept the new payments, while there is a store apiece in Latvia’s Riga and Estonia’s Tallinn, taking the testing ground to a total of 5 stores across the Baltics.
Eastern Europe is not the only region to benefit from CopPay, as several merchants across Portugal are also using the platform with an announcement in the pipeline regarding Samsung’s online stores.
CopPay recently released a statement regarding their services moving forward in a quest to take crypto transactions to the next level by saying: “There is a growing trend towards business and digitalization and allowing customers to pay for goods and services in cryptocurrency, whether at global retailers or local restaurants”.
It seems that CopPay is already on the cutting-edge of the industry, and understands the importance in diversifying crypto and blockchain payment options, allowing customers to buy normal everyday things with crypto while also purchasing larger items such as televisions and mobile phones.
Samsung is also hardly a stranger to the crypto world, revealing in January that it was making its first venture into the crypto mining chip scene by actually making them.
We are always hyper-critical when major corporations enter the crypto industry, but Samsung allowing crypto and blockchain payments across its Baltic stores is a no-brainer and a total positive for the industry moving forward.