A world-known South Korean multinational conglomerate Samsung in tandem with CopPay have introduced a platform for accepting crypto payments.
Primarily, the platform will be implemented in 3 Baltic countries. The announcement was made by the Lithuanian-based company on July 20.
The counties involved in the project are Estonia, Latvia, Lithuania. The stores that will accept cryptocurrencies are located in Tallinn (Estonia), Riga (Latvia), Vilnius (Lithuania), and Kaunas (Lithuania).
According to information released by CopPay, the Korean IT giant will accept Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), Dash, NEM, and Steem. Thus, having so many coins in the list, Samsung proves its interests in the mass adoption of cryptocurrencies. The company realizes the benefits it might derive from the crypto industry in the future.
There is only one Samsung store in Tallinn and Riga. However, in Vilnius there are 3 stores, all with the capacity to process crypto payments. Apart from that, CopPay also has a network of merchants using its platform in Portugal.
According to the official information revealed by Samsung, the company will not only implement the Blockchain technology of accepting cryptocurrencies in physical stores. There are short-term plans that online stores will also receive cryptos.
CopPay commented that Samsung alongside with other businesses in various spheres have also adopted cryptocurrencies as an effective means of processing financial 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,”
Samsung has been involved in the development of blockchain technologies and has even been a significant player in the crypto sphere. Earlier this year, the company revealed its plans to enter the ASICS market by manufacturing its own crypto mechanical chips. This decision let to significant growth during the first quarter of 2018.