Samsung's Baltic States Stores' To Accept Cryptocurrency Payments

Last Friday, Samsung stores across several of the Baltic States, made a huge a announcement that they would be soon accepting at least seven different cryptocurrencies for making purchases of Samsung Merchandise. It would be done through a new collaboration of the payment gateway processor Coppay, and the different Samsung stores in Tallin, Riga, Vilnus, and Kaunas – where customers will be able to pay with ETG, DASH, STEEM, LTC, XRP, AND BTC.

As of now, the European payment processor Coppay (fintech company of Europe), provides solutions to customers paying across 31 merchant locations. Now the company has made announcements that Samsung is fully embracing its slogan to “Turn on Future” by allowing seven separate cryptocurrencies to be used as a viable payment currency for their products. The new virtual currencies that can be paid for in Samsung stores are the big ones like, Bitcoin, Dash, NEM, Steem, Ripple, Litecoin, and Ethereum.

Customers living in the areas of Vilnius, Riga, Tallinn, and Kaunas are able to purchase Samsung smartphones, tablets, laptops, TVs, and much more with the new virtual currencies, as explained in an announcement by Coppay.

There’s a massive trend, steering business enterprises to start accepting virtual currencies as payments of goods and services to be made in cryptocurrencies, either at local restaurants or global retail departments – across the globe.

Samsung And The Entire Baltic Region Are In Alignment with The Future Of Digital Assets

Cryptocurrencies, specifically, have become unbelievably popular in several states across the Baltic region, with virtual assets now being accepted as payment in areas like Estonia, Latvia, and Lithuania. There is a massive number of merchants (online and offline) that have started accepting Bitcoin to pay for goods and services. Products and services include: bars, apartments, coffee, restaurants, hotels, specialty shops, clothing stores, and massive parlors, just to name a few. New regulations in Baltic States hardly exist, save for Latvia, where a capital gains tax of 20 percent has been imposed on cryptocurrency exchanges.

Samsung also shows great interest into using blockchain technology for the company. Their sector on it has been creating semiconductors for cryptocurrency mining devices. The company also holds earnings that have climbed at a significant rate since 2017 because of the demand for semiconductors which are tied to the virtual asset mining centers. Coppay payment processor, operates in a similar fashion to that of Bitpay’s services where merchants can keep cryptocurrency from exchanges for fiat, sales, or both. The new company explains that other merchants will begin using cryptocurrency as well for the purpose of payment solutions through their system also.

What are your thoughts on the subject about Samsung stores in the Baltic Region now accepting cryptocurrencies for payments. Tell us your thoughts in the subject line below.

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