China-based electronics maker Xiaomi is interested in cryptocurrencies, however, the company needs a clear industry regulation, according to the company’s vice president and head of Xiaomi India Manu Kumar Jain.
He says Xiaomi will be able to offer crypto-related services when there is enough regulatory certainty in the market. He said:
“We will want to wait for all the regulatory things. Of course, crypto is an area, which is extremely interesting, and is the biggest buzzword and is doing exceptionally well. But, we would want to understand more on the regulation side.”
At the same time, Xiaomi will expand its presence in the fintech market by becoming a full-spectrum lending platform. The company is already offering business loans and plans to add gold secured loans.
A Portuguese retailer of Xiaomi announced earlier this month it had added the possibility to pay for goods in cryptocurrencies. However, the tweet was removed shortly after.