South Korean electronics titan Samsung has announced that its Baltic stores now accept multiple cryptocurrencies as a means of payment via the blockchain-based CopPay platform, according to a July 20 Medium post.
The platform allows merchants to receive cryptocurrency and either keep the payments in a cold wallet or immediately convert it to fiat. It has a zero-transaction fee policy and supports a wide range of cryptos including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dash, NEM, and Steem.
The CopPay merchant map shows which Samsung Baltic stores are already implementing the platform — 31 as of press time — with Samsung today announcing that the system will be available soon at its internet stores as well.
Beyond embracing crypto as payment for its products, Samsung has been developing blockchain solutions for logistics services to e-commerce sellers, launched its own blockchain platform for finance-related businesses, and intends to use blockchain for its giant multinational supply network.
Samsung has also made inroads into the crypto mining industry this year, partnering with mining hardware manufacturers Bitmain and Halong Mining Corp to produce ASIC chips.