The platform Coppay is a European fintech firm that offers payment gateways for cryptocurrency paying customers throughout 31 merchant locations. Now the company has announced that Samsung is truly embracing its slogan to “Turn on Future” by accepting seven different cryptocurrencies. The digital currencies the Samsung stores will be accepting for payments include bitcoin core (BTC), dash (DASH), NEM (XEM), steem (STEEM), ripple (XRP), litecoin (LTC), and ethereum (ETH).
“Customers in Tallinn, Riga, Vilnius, and Kaunas can buy Samsung smartphones, tablets, laptops, TV-sets, and more with digital money,” explains Coppay’s announcement.
Cryptocurrencies, in particular, have been extremely popular in the Baltic states and digital assets have broad acceptance in states like Estonia, Latvia, and Lithuania. There is a great variety of merchants that accept bitcoin payments for coffee, apartments, bars, restaurants, hotels, specialty shops, clothing stores, and massage parlors. Regulatory policy in the Baltic region barely exists, except for Latvia, which may impose a 20 percent capital gains tax on cryptocurrency exchanges
Samsung also has shown interest in blockchain technology and it’s well known the firm creates semiconductors for cryptocurrency mining devices. The company’s earnings had spiked significantly in 2017 due to semiconductor demand tethered to digital asset mining operations. The payment processor Coppay operates similarly to the firm Bitpay’s platform and merchants are allowed to keep the cryptocurrency from sales, exchange it for fiat, or a combination of both. The company explains the other Samsung merchants will also be adding the crypto-payment feature through their system as well.
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